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Level 1
posted Mar 24, 2022 8:58:15 PM

I bought a condo unit in 2021. It is considered a rental but I don't charge my relative any rent. How do I show this in my taxes?

Turbo tax asks: Days I rented it for fair rental price,  Days of personal use, or finally if I did not rent or attempt to rent the property at all in 2021?  I paid the mortgage as if it was an investment property.

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1 Replies
Expert Alumni
Mar 24, 2022 9:25:47 PM

You did not rent it in 2021 at all. It is considered personal use. See if you can itemize your deduction with any mortgage interest and property tax.