@WillSun wrote:
Thank you for the quick response. Neither of us take any income from the property, it is put into an account for the house for repairs, taxes and such. Would we both have to show it on our taxes as income, or should I do it as a business and do a k1 to each of us?
If you have a profit from renting the property, you pay taxes on that profit, even if you left the money in a separate bank account for future maintenance etc.
