kgodino
Returning Member

second home for non-profit

I have a second home that is paid off, my daughter lives there and pays the property taxes and insurance. how should I report this? I don't charge her any rent. I bought the house for her after I had sold a rental property that I had inherited.  I had to do a 1031 exchange. Now I'd like to convert it to her name and mine.  I need to know what I should claimand what forms to fill out for my 2024 taxes and how I can convert it?