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Updated almost 9 years ago,
Claiming Rent from Tennant as " Income " .....
Good Afternoon,
I have what is likely a basic question, but yet I am stumped on what the actual answer is.
My question is ...... I purchased a property via a Trustee , that had a Tennant/Renter living in the Mother-in-Law wing of this property for over 2 years .
Well I purchased this property 2 months ago and the Tennant is still in the Mother-in-Law wing renting it out .
Since I am now the new owner, can I not claim the Rent money as actual Income ?
Thank you for the input