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Renting house to a family member
We rented our old house to a family member. There is still a mortgage on this property. My family member has taken over all payments for this property. Do I claim this as rental?
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May 31, 2019
9:24 PM
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Investors & landlords
NO.
For determining whether a home is used for rental purposes or for personal use, there are several factors to consider, but the applicable factor in this scenario is whether or not the related family member paid a fair rental price for use of the home. If they did not, then the use of the dwelling unit is considered to be personal use by the owner."
May 31, 2019
9:24 PM