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Maxmillian

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Posts: 30
Reply with quote  #1 
I just received a letter from the IRS demanding that I pay $ 7400  tax and interest on unreported income from section 8 tenants  I have many units and did report  all the income  However,I did not separate it  or specify that it was section 8  Long ago ,an  IRS agent had told me that this was not necessary. Since the numbers didn't match  the 1099's  They jumped to the conclusion that I had  not reported the rents.    Is there a way to show this on schedule E ? I paid the tax This is stressful .
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LLinVA

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Posts: 163
Reply with quote  #2 
Did you do your own taxes? I would have a CPA take a look at it and submit any necessary forms. They do cost money, but their help is usually more than worth the saved headache and time. This way you will know for sure it is done properly.
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