@tagteam wrote:
@Opus 17 wrote:
There is no prohibition against renting to family at below FMV. What happens is, you lose the ability to deduct expenses if they are more than your rent......
Per Section 280A(d)(3)(A), regarding rental to a family member, rental real estate can be reported as a standard rental provided the family member uses the property as a principal residence and pays fair rental.
My understanding on renting real estate below FMV has been that you can deduct expenses up to income but not more than income. I could be wrong. I've gotten most of my real estate information from @Carl over the years.
