If you’re getting your rental payment in Zelle, how are you reporting it if you are reporting it at all?

like
Posting as :
works at
You are currently posting as works at

What do you mean how? You report it as rental income on your tax return

likesmart

Yup. Reported as income on schedules e

Brown paper bag stuffed with cash is best for illegal tax evasion.

likefunny

Same as if it came by check or cash.

like

Don’t report it and have fun with that audit later!

likefunny

It's the same income as if you got it by check. I retain electronic copies of the transactions within my checking account to support the amount received.

like

There are very specific instances where you can exclude the income (Augusta rule) otherwise it is just ordinary rental income and you can probably offset some of it with expenses.

like

Legally.

like

Uhh are you asking how to evade taxes? Wrong platform my friend

If you dont report the income, you cant claim expenses.

I collect through Zillow so I get a tax form. You also would through PayPal or Venmo. That’s much cleaner.

There are times when it makes sense to get a CPA to help with taxes…this seems like that time.

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likehelpful

Which is good brokerage account for etf and stocks. Can't use robinhood due to restrictions

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