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paula-crabtree
New Member

My parents bought a house and I'm doing a rent-to-buy with them. I give them the rent every month and they pay the mortgage. Can I claim that? will it affect them?

 
1 Reply
maglib
Level 10

My parents bought a house and I'm doing a rent-to-buy with them. I give them the rent every month and they pay the mortgage. Can I claim that? will it affect them?

you would need to discuss this with your parents as they would have to declare the income. The transaction would have to be arms length and normally the IRS does not allow family transaction deductions unless you can prove they would have done this with 3rd parties at same terms.
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