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My dad owns a % of my apt. I pay 100% of taxes & exp. In 2018 I rented it out for 6 mos. Can I claim 100% of the rental income, or does my dad have to claim his %?
My dad owns 80% of my apt. I own 20%. I pay all property taxes and expenses and maintain the apt. He has nothing to do with it except he's an owner. I rented it for 6 months. Can I claim 100% of the rental income and pay the relevant taxes, or do I need to divvy up the income and the taxes with him? If you know the answer, I'd love to see where that answer comes from. Is there an IRS guideline? thank you!
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‎June 3, 2019
10:40 AM