I have a rental property that my daughter rents from me. She has room mates, (2 siblings). Does she include the rent collected and expenses for the property or do I?
I have a rental property that my daughter rents from me. She has room mates, (2 siblings). Does she include the rent collected and expenses for the property or do I?
There are also 2 non-sibling room mates who also pay rent to her.
I have a rental property that my daughter rents from me. She has room mates, (2 siblings). Does she include the rent collected and expenses for the property or do I?
To be rental income, you have to run rental operation with an expectation to earn profit, if you are charging money from a friend and family members to share the cost, this is not rental income and not required to be reported.
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