nathancg
New Member

Rent second home to relative below market rate, is this income?

My brother and I co own a condo we inhereited - we pay the mortgage, HOA and Taxes from a joint account (belonging to my brother and I) - Our uncle lives there all year and gives us money monthly, well below market rate and pretty much just covers these costs. Is this Misc income and reportable? Or because it is personal use and "not for profit" is this not taxable?