We hold the mortgage but she pays all bills. The property is a duplex. Were on one side, she is on the other.
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No. Your mother in law suite is not rental property.
You are not receiving income, you do not have expenses and there is no lease agreement.
For more information on what is rental property, follow this link: IRS on Rental Property
No. Your mother in law suite is not rental property.
You are not receiving income, you do not have expenses and there is no lease agreement.
For more information on what is rental property, follow this link: IRS on Rental Property
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