Investing in someone's primary residence

[Stacy Tring]

Cousin A currently lives in one half of their primary residence and rents out the other half.

Cousin B has a rental property they want to get rid of by doing a 1031 exchange.

If Cousin B buys 50% of Cousin A's house as tenants in common, can A & B essentially switch over the rental income to B, whereby B reports all rental income and expenses on their taxes and A reports no rental income and expenses? Or, do A & B have to report all rental income and expenses 50/50?

[Michael Plaks]

PS. Depending on the state where this is happening, maybe these cousins should just get married :)