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Updated 9 months ago on . Most recent reply
What is a "Not Rented for Profit" rental?
I am renting a home to a friend of the family for far below rental market value. (Rent Zestimate®: $1,599 and I am collecting $600/month)
Can this be considered a "Not Rented for Profit" rental property/agreement?
If so, would this allow me to deduct rental expenses below the amount of your rental income?
Is there anything else that I would need to or want to know in managing this property?