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Investors & landlords
No, this is not considered a rental activity because you are not receiving fair market rent for the house. Instead, this is considered a "second home." Any income you were paid is reported as miscellaneous other income, which is fully taxable. Property taxes and mortgage interest are deductible, but no other property expenses can be deducted.
Additional Information:
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‎January 26, 2025
7:40 AM