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Investors & landlords
Your answer makes sense to me, but my previous research couldn't turn up a clear answer since I own the house, but also live in it.
If we were renting a house together, then it is clearly not taxable income. But since I am sort of a "landlord" receiving money from family to put towards the mortgage of my primary residence (though it is well below the fair market value) I couldn't find any trustworthy information sources. For NON-Primary residences, I could find information, but not for my exact situtation.
Do you have any sources that support your viewpoints? I am self employed, and my taxes are automatically heavily scrutinized, so I want to make sure I'm handling it properly up front!
‎December 12, 2024
5:54 AM