Rental properties are now occupied by children with the intent to purchase. All rent goes toward mortgage, etc. No profit is being made. Do we have to claim
income?
Rental properties are now occupied by children with the intent to purchase. All rent goes toward mortgage, etc. No profit is being made. Do we have to claim
income?
There is no straigtforward answer as it may vary with how the individual has set it up. Whether it ends up being a sale via an installment agreement or rent, the income is reportable.
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