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Get your taxes done using TurboTax
No. If you're renting to a relative at below-market value, the IRS typically considers this personal use of the property. In this case, you likely wouldn't be able to claim expenses beyond the rental income you collect.
The only deductible expenses are mortgage and property taxes claimed as itemized expenses since this would be considered like a second home for you.
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March 19, 2025
5:43 PM