Our home has an in-law apartment that we rent out and report the income on our taxes. With us lives our only child who files his own taxes. Last year we transferred the title to the house to our son and we retained the right to live here as long as we are alive. Nothing else changed i.e. the mortgage, utilities, property taxes etc. are still in our name and we pay them. Can we continue to report the income from the apartment on our taxes or should our son report it?
