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Updated about 1 year ago on . Most recent reply

Boston Caruthers's profile image
Boston Caruthers's profile image
Boston Caruthers
  • Investor
  • from Parkersburg, WV
  • Member since Dec 16, 2023
  • Posts 5
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  • Experience 4 Yrs
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Boston Caruthers's profile image
Boston Caruthers's profile image
Boston Caruthers
  • Investor
  • from Parkersburg, WV
  • Member since Dec 16, 2023
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  • Experience 4 Yrs
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Boston Caruthers
  • Investor
  • Parkersburg, WV
1
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Managing Your Property

How to collect rent with new IRS Rules?

Boston Caruthers
  • Investor
  • Parkersburg, WV
Posted

I was reading about how the IRS is going to be more stuck on Venmo, Cashapp, Zelle, etc. for collecting rent from tenants. I wanted to get some thoughts on this and even if it is true? 

If it is true what other payment options for tenants would you recommend?

Charleston, West Virginia
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David M.
  • from Morris County, NJ
  • Member since Jan 26, 2020
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David M.'s profile image
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David M.
  • from Morris County, NJ
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David M.
  • Morris County, NJ
Replied

@Boston Caruthers

Hmm...  I don't think it really matters.  You plan to declare the rental income on your tax returns either way, right?  Just because the services file and IRS form doesn't change your reporting.

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