turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

airaeleth
New Member

I own a property (rental property)my mother manages and collects all the rent and she keep it.Who is in charge of reporting that as earned income?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

I own a property (rental property)my mother manages and collects all the rent and she keep it.Who is in charge of reporting that as earned income?

If you own the property then it is your income, you would report it.

If you let her keep it, then you are gifting it to her or paying her for the work she does.

You need to issue her a 1099 for the income she gets if it for managing the property and she would pay taxes on it.

You would then deduct what you pay her on the Rental schedule on your return.

View solution in original post

1 Reply

I own a property (rental property)my mother manages and collects all the rent and she keep it.Who is in charge of reporting that as earned income?

If you own the property then it is your income, you would report it.

If you let her keep it, then you are gifting it to her or paying her for the work she does.

You need to issue her a 1099 for the income she gets if it for managing the property and she would pay taxes on it.

You would then deduct what you pay her on the Rental schedule on your return.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies