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what qualifies as a rental property?
I own a house in Arizona but lived in Colorado for all of 2020. My daughter lives at the house in Arizona and essentially pays me to pay the current mortgage.
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posted
May 6, 2021
1:21 PM
last updated
May 06, 2021
1:21 PM
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what qualifies as a rental property?
That's not a rental property, at least not a "for-profit" rental because it not fair market value. Since the one "renting" is your daughter, there's likely nothing to report because she may be just assisting with upkeep. However, if you are looking to claim her as a dependent (because she's in school, for example), keep in mind that the money she is paying you does count towards her providing her own support.
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May 7, 2021
7:14 PM
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