Landlord isn’t reporting rental income on taxes, can he get in trouble?
Asked by: ubinas
Through a strange chain of events, I learned that the landlord has not been reporting rental income on his assets. On top of that, he declared bankruptcy a year or so ago and on the forms he didn’t claim any rental income at all, despite renting out 3-4 houses! Can he get in trouble for this? He has over ten years of dodging taxes as well.
Hi Sophie, it shows that he filed a “Chapter 11″ for himself as an individual. But on the form where it asks about “all income from other businesses” it’s blank and for rental income it is also blank. The places that he gets rental income from though are his houses that he has listed on his bankruptcy petition. However, the “companies” that the checks are written to are LLC.