Investors & landlords

I disagree with the cost-sharing idea.  

 

It sounds like your son does NOT live with you.  If he lived with you, the MAYBE cost-sharing could work (although I still think in many cases it would not be allowable).  But not living with you?  No way.  He is paying you to live there (by paying the mortgage).  Just like a non-related party, that is rent.

 

No, if the rent is significantly below Fair Market Value, those expenses are not deductible.