3357763
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

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

does rent a flat to live consider as gift?

Hi

 

I am a little bit confused for the concept for the gift. Let us take one example. If I rent a flat to live myself including my spouse and my kid. Sometimes, parent or parent in law may live here a while, who come to visit and also help take care of the kid. I think this is what the normal family will do. Shall we consider the room living to the spouse, kid, parent or parent in law as gift? I think no, right?  

 

Thanks,

 

J

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.

7 Replies

does rent a flat to live consider as gift?

There is nothing to enter on a tax return about having relatives visit and stay with you for awhile.  

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

does rent a flat to live consider as gift?

No. And there are no tax consequences. 

does rent a flat to live consider as gift?

thanks. and I pay the rent and let my spouse and kid living in the flat. There are also no tax consquence, right?

 

 

does rent a flat to live consider as gift?

thanks. So no tax consequence for everyone, right?

does rent a flat to live consider as gift?

Right. 

Hal_Al
Level 15

does rent a flat to live consider as gift?

Q. Shall I consider providing living space to my spouse, kid, parent or parent in law as gift to them? 

A. Simple answer: No, in all four cases. 

 

Support of your spouse or dependent child, including shelter, is not a gift. Allowing others to stay temporarily in property you rent, for your own use, would also not be considered a gift.  

 

Paying rent for the domicile of a relative, who is not your dependent, might be considered a gift. 

 

 "Gift Tax" is somewhat of a misnomer.  Even though a gift tax return may be required, very few people ever actually pay federal gift tax. The purpose of the gift tax return is usually only to document a reduction in the allowable estate tax exemption.
See https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax-Made-Simple/...  

does rent a flat to live consider as gift?

thanks

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question