Renting from daughter

jeff8415 · ‎April 11, 2023

My wife and I are retired. We recently sold our home and are currently living in our daughter's house and paying her house payment as rent. She has moved into a new home with her significant other. Can this be considered a gift or in any way tax deductible? Any information would be appreciated!

AnnetteB6 · ‎April 11, 2023

There is nothing that is deductible on your return for paying rent to your daughter for staying in her house.

She should be claiming the rent as income on her tax return unless you are considering it as a gift to her. If it is considered to be a gift, then you would need to file a gift tax return if the amount is greater than the annual gift tax limit of $16,000 per recipient in 2022. If it is a gift, it is not a deduction to you.

Take a look at the following TurboTax help article to learn more:

Where do I report a cash gift?

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AnnetteB6 · ‎April 11, 2023

There is nothing that is deductible on your return for paying rent to your daughter for staying in her house.

She should be claiming the rent as income on her tax return unless you are considering it as a gift to her. If it is considered to be a gift, then you would need to file a gift tax return if the amount is greater than the annual gift tax limit of $16,000 per recipient in 2022. If it is a gift, it is not a deduction to you.

Take a look at the following TurboTax help article to learn more:

Where do I report a cash gift?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"