All Forum Posts by: Yash Gautam

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Yash Gautam has started 1 posts and replied 4 times.

Ok, I understand thank y'all for the clarifications!

0 Votes

Thank you so much!

0 Votes

Originally posted by @Nicole W.:

I just read some article online about this. You have to ask an appropriate rent or you get taxed for not charging enough. Check it out with your lawyer and CPA.

Ahh ok that makes sense, if possible could you link me the article?

0 Votes

The title is basically my question but with a couple caveats. I am a beginner so bear with me but lets say couple years down the line I have a booming rental business and I have the money now where I want to buy my parents a home, let's say for $1 million. Could I buy the property though my rental business to get all the tax benefits of doing this while charging my parents a stupid low rent, say $100/month. Firstly would this be legal? And secondly would it make sense for me to do it from a financial standpoint?

1 Vote