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Updated over 6 years ago, 05/02/2018
Could be late filing rent taxes - but owe 0 - Am I in trouble?
I had to rent out my place to help my mom after my dad became ill then passed away. The point is that sort of thing caused me to get swamped, and I never intended to rent. So filing is new. I want to get it done by the deadline today, and many things didn't go just right. I'm so close to being done, I for sure only need at most until Wed or Thur, but am starting to wonder if I will get taxes filed by today (Tue). I'll be on time for 2017 filing if I make it by today. This is the 2nd year renting. I didn't file for 2016 at all because that's when he had his stroke, and again swamped. I knew however that it didn't make enough to be taxable. I know it's not an excuse not to file, but it wasn't on purpose. I calculated what I owe for 2016 and 2017. 2016 is late, but I wouldn't owe any thing in taxes as our family lost it's main business, and total income is under the threshold to pay taxes. I may make it to be on time today for 2017 taxes, but again, the total earned wouldn't require me to pay anything either in taxes. I do know they must be filed and will do that. But let's say I can't get it out today, will I lose my deductions such as depreciation or repairs? Or be punished even if I'm quick enough submit it by mid week or Thurs? Or should I call someone? Or since I really don't owe anything, I shouldn't be that fearful if I hurry? In other words, Must I make it by today? opinions? thank you.