Investors & landlords

Thank you for clarifying.   I can take the hit and pay the tax this year, because I can't itemize.  Going forward it seems I should change our arrangement to a cost sharing agreement (and send a copy to SS), where I would not have to report the cost sharing as income.  Is that correct?  I found many people saying this was what to do, but the Special Needs Attorney, who we were using last year for estate planning and advice for our son, said we should use a rental agreement.  This is contrary to what I have seen here and from others in a similar situation.

 

Thanks again!

 

Chris M