1. No, there isn't a form.
2. You will need to keep your own records. Your record keeping should include things like: add a fence, plant a garden, build a porch, etc as all these costs add to the ...
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1. No, there isn't a form.
2. You will need to keep your own records. Your record keeping should include things like: add a fence, plant a garden, build a porch, etc as all these costs add to the basis of the property, for when it is sold.
3. Yes, reimbursed expenses are nontaxable. Let's talk about the rent.
If your daughter is reimbursing you each month for actual out of pocket costs like utility bills and property tax it could be a nontaxable reimbursement. This is the offset David mentions above.
If your daughter is paying a flat rate each month, it is rent and should show on Sch a line 8z. Label it rent from family member for personal use property.
Prior to 2018, insurance, repairs, utilities, etc were deductible as an itemized deduction for this situation.
One point of caution: since you are charging below market value, the IRS views this as foregone rent. As long as the difference between fair market value and what she pays is less that the gift tax limit, there is no need to file a gift tax return. For 2025, the first $19,000 given to each recipient is excluded from gift tax. Since your daughter is married, that would be $19,000 to your daughter and another $19,000 to her spouse.