Receipt for Rent- Income Tax Question

[Andrew B.]

Hi All,

I just have a fairly simple question. First off, landlording has been great for me so far in the year and a half that I have been doing it (knock on wood). The problem is I have not done my taxes for 2011 ( due to an illness and move across country).

My question is when claiming rental income I assume I need to submit monthly rent receipts which I have never made or given my tenant. (he just gives me post dated checks).

I do understand I am probably doing this wrong and I should type receipts monthly for the past year hes been renting. What exactly should these receipts consist of? Can I make them pretty simple?

If it came down to it I could show my monthly deposits in my bank account but what do you guys think?

Thank you
Andrew