My daughter rents a condo from us and will pay below FMRV for 2 years because she's getting back on her feet. The condo is paid off so we have minimal expenses to claim. I read about Form 5213-Election To Postpone Determination as To Whether the Presumption Applies that an Activity Is Engaged in for Profit that I have to file within 3 years of rental start. Is this a good way to go for now? We will have losses for 2 years and then hopefully profit after that.
