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Self employed
Great question! It is a bit of a fine line, but since it is your boyfriend, and isn't considered a rental property, as it is your personal residence, not being conducted for profit, or rented at fair market rates, it falls into the category of shared living expenses. The only real issue is the mortgage interest deduction if you itemize. You should only be deducting 1/2 or whatever the amount is you are paying for the year of the mortgage interest.
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‎August 31, 2022
11:45 AM
933 Views