Thank you for your prior reply.
My daughter, my wife and I are all listed on the deed. My daughter and I are listed on the loan. Percentages of ownership, 80/20, are only on the equity share agreement, not on the deed or loan.
I would like to keep my daughter's rental of a room separate from the Equity Share agreement if possible. That way, whenever she starts or stops renting a room, it would not affect my tax situation. So based on your response can my daughter collect all the rent for the room she rents out and then would also pay my wife and I FMR for her percentage of ownership of the entire condo? When she calculates depreciation does she depreciate just the fraction of the rental room sf/total SF or SF/80% of the total condo SF?
