Tax loss due to Coved-19

[Theresa424]

I lost income in March & April when my guest's reservations had to be cancelled. Can I write off those cancellations as a loss?

[Mike-And-Jane0 · Accepted solution]

@Theresa424 NO you can't.

[Lorna170]

No.  Check with your tax man, but not receiving income is not considered "lost income" and cannot be written off.

[Theresa424]

ok - haha (it felt like income when I had to cancel for Covid)

[Lisa723]

@Theresa424 no, instead you can:  not report the income you didn't get as income. 

[Theresa424]

ok - haha