Level 15
11-18-2021
10:11 AM
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Ive got a little old lady that basically "gave" one of her rentals to her son. Its not a legal transfer, or a gift, shes waiting for him to inherit it when she dies but she basically said "Here, do with it what you want".
He rents it out and keeps the money and pays for and does all the maintenance on the house...We put the income and expenses he pays for on his return....he doesn't get any depreciation since he doesnt own the home, but the income and maintenance expenses all go on his return.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪