topic Re: My parents do not have income. Came from Ukraine in October 2022. Have green cards They live in house I onw. I supporting them 100%. Can I put it as rental and deduct exp in Get your taxes done using TurboTax

My parents do not have income. Came from Ukraine in October 2022. Have green cards They live in house I onw. I supporting them 100%. Can I put it as rental and deduct exp

1209romanova-gma — Mon, 23 Feb 2026 11:04:58 GMT

I bought mobile home for parent to live. Paying lot rent, tax and utilities. How can I report this property to be able to right off some expenses. I have other rentals. This is not a second home.

Re: My parents do not have income. Came from Ukraine in October 2022. Have green cards They live in house I onw. I supporting them 100%. Can I put it as rental and deduct exp

Anonymous_ — Thu, 05 Jan 2023 18:07:49 GMT

@1209romanova-gma wrote:
This is not a second home.

For federal income tax purposes the property is treated as a second home unless you charge your parents fair rental.

Re: My parents do not have income. Came from Ukraine in October 2022. Have green cards They live in house I onw. I supporting them 100%. Can I put it as rental and deduct exp

1209romanova-gma — Thu, 05 Jan 2023 19:15:36 GMT

I know that. I read I can go 10-20% below fare market. My question how can I rent them if they do not income. One opinion was I can treat it as a gift. Amount of rent as a gift.

Can someone help with complete picture of how can I do it as a rental.
Thank you.

Re: My parents do not have income. Came from Ukraine in October 2022. Have green cards They live in house I onw. I supporting them 100%. Can I put it as rental and deduct exp

Anonymous_ — Thu, 05 Jan 2023 20:56:09 GMT

@1209romanova-gma wrote:

One opinion was I can treat it as a gift. Amount of rent as a gift.

You cannot rent to them if they do not have income or have anything of value to pay you fair rental value for the use of the property.

If you consider the fair rental value as a gift from you to your parents, then you are simply back to square one; the house is treated as a second home for federal income tax purposes.