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All Forum Posts by: Rebecca Wilson

Rebecca Wilson has started 2 posts and replied 4 times.

I have not filed 2018 taxes yet !!  

@EAMONN McELROY 

Thanks, so for 2020 tax I should reclass this property from rental to second home or vacation home  ???  Regarding the gift tax, I intend to give her the property to her as soon as I pay off the Mortgage balance, hopefully next month.  Should I report on tax return as Gift if I deed the property to her?

My daughter is currently living in a property I rented in the pass to non family. In 2019 she moved in, however, she is not paying rent or any of expenses, ie, utilities, electricity, HOA, etc.

How do I handle this situation for tax purposes ?  

I moved out my 4 BR home in late 2017. Purchased new home different city. Beginning Apr 2018 I began renting out 2 of 4 BRs in old home. How do I handle tax deductions? I visit the property occasionally for personal reasons, but mostly to address maintenance issues and finish cleanout.

How do I handle income & tax deductions? Is this a rental property or second home ?  Do I need to account for personal days spent there ?