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Level 2
posted Jun 2, 2020 7:18:09 AM

How do I change a house that I was renting to a 2nd home on my tax return, what steps do I have to take? Is there anything I have to report with a 2nd home?

We have family currently living there and they are paying the expenses; They could not get a loan so it's in my name, they essentially will own it.  I had originally treated as rental because I wasn't sure how to treat it.  I would prefer not to treat it as a rental though.

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1 Replies
Level 15
Jun 2, 2020 7:01:53 PM

Already answered at https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-we-purchased-home-for-mil-need-help/01/1618539#M52289

Please keep your posts on a subject in one thread. Otherwise, you are guaranteed to get conflicting answers as different readers make different assumptions.