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Get your taxes done using TurboTax
Every day you rent to a family member (or actually anyone) at below fair rental value is considered to be a day of personal use.
As a result, your deductions are limited to mortgage interest and real estate taxes which, themselves, are subject to limitations. You cannot report a loss nor deduct depreciation, but you still need to report the rental income.
‎January 16, 2023
7:45 PM
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