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Investors & landlords
Safest/Easiest: Just consider it a second home. Declare any rent paid as 'Other Income - Cash'. For 2018 returns, you can't deduct associated expenses, but you still get Property Tax and Mortgage Interest deductions on a second home.
Second option: Ignore 'rent' paid, if inconsequential. Consider her contributions as family members sharing resources/expenses.
Second option: Ignore 'rent' paid, if inconsequential. Consider her contributions as family members sharing resources/expenses.
‎June 4, 2019
4:14 PM