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Is this a rental property or a dependent situation?
I purchased the home that my MIL and her sister were renting when their landlord no longer wanted it. My brother in law sends me a check for some of the rent because his dogs live there. Both MIL and her sister live on SSI payments with no other income. I am trying to figure out how to handle this situation on my 2017 taxes. Do I treat it as a rental property? Do I consider my entire contribution as support and claim them as dependents? Any insight or things I should consider?
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‎June 4, 2019
2:00 PM