@nstillwell wrote:
The son's LLC pays rent to use the building, but has been known to skip a month when funds are low.
Are you not holding them responsible for the 'missed' payments?
If not, that seems like it could potentially fall into the not-for-profit rental situation (not renting at Fair Rental Value).
In my opinion, this is really something that you should NOT be doing yourself; you should be going to a good tax professional.
