If your ultimate goal is to prevent the Convicted Child Abuser from being there, you must get rid of the tenant.

As far as the CPA income question above there is a little extra cost in the way books are set up to be able to account for each child series separately.

Question for RE / tax gurus:If a property is worth $100k, can two parents gift 50% equity of a property to their child and their spouse in one calendar year (2018), and the remaining 50% of equity the following calendar year (2019) and legally avoid the annual gift tax limit ($56k) while essentially gifting a home to their child over this timeframe?

It's pretty cut and dry, but it works and now he's worth enough to buy every man, woman, and child a nice sandwich and a bag of chips. 19.7% annualized gain in book value isn't as sexy as day trading, but BRK/A just closed at 190,500 a share!

My child is surrounded by other great two-parent families with kids her age.

Her only child that’s still alive is my uncle.

Hi MitchellSo what I get out of this explanation is your wife ran up a ton of credit card debt in your name when your income was down, so you dumped her.You are in the middle of a divorce situation with her, and the financial dust between you two has not been settled, pending home sale, possible child support judgement(s) against you, possible alimony judgement against you, splitting of the debts owed to each person.If you are asking how to handle the credit card (type) debt...You can call them and ask to work out a payment plan which may stop the late fees, and will stop the credit card from working.BUT<--(That), if you're personal financial picture is not locked in yet 100% by the Divorce Court you will not know how much you can afford to pay, and still be able to eat beans and biscuits for lunch, as well as keep a roof over your head and 4 wheels in the driveway.It seems logical to lock in your financial side with court orders before agreeing to pay with money they may de-materialize due to court orders.Just my 2 cents.

Doubtful that there would be any Federal agents rooting around in your attic, but if somehow your tenant's or a neighbor's pet (or child) were to ingest some and die, you could be in trouble were they to trace it back to you.

My son has to be basically locked indoors when he comes home from school, this is not the best area to be raising a child in.

They don't know or remember that their sibling is still on title, they owe a $20K credit card judgment or that the county files an abstract of judgment for child support whether or not you are behind.