I am the power-of-attorney for a home my daughter owns in another state. I make the rental decisions and pay expenses. Can I claim on my taxes? What abt 1st yr deprec?

[tbertolo]

I'm on disability and don't have to file.  I was trying to see if I could recover some of the expenses I've paid out.

[tagteam]

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@tbertolo wrote:
I'm on disability and don't have to file.  I was trying to see if I could recover some of the expenses I've paid out.

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No, because you don't own the property you can't deduct any expenses, even if you paid them yourself.

You might want to discuss drafting some sort of management agreement with your daughter whereby you would take a share of the rental income and perhaps a management fee from which you could deduct expenses.

[tbertolo]

Thank you.  I appreciate your answer.  That saves me a lot of stress.  Can I possibly ask one more question?  If so, I wanted to know since she owned the home since 11/30/2021 and did rent it in 2022, prior to making me her power of attorney, can she file an amended return for 2022 and 2023?  FYI - reason for the power-of-attorney, she's in prison.

[tagteam]

She can file an amended return, yes.

[fanfare]

Upkeep and other costs of the property should be coming out of the rent, not out of your pocket.

@tbertolo