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Get your taxes done using TurboTax
You could use Schedule E to report 'renting out part of your home'. You could claim expenses, but not over the amount of Rental Income. You would not claim your parents as Dependents in this case. If the amount of Rental Income you received is based on a Fair Market Rental Cost, here's more info on Renting to Family Members.
Here's more info on Renting out Part of Your Home.
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March 17, 2023
1:13 PM