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On November 19th, 2019 Brad and I got married. 1. Brad moved in with me in July to save money and he started renting out
On November 19th, 2019 Brad and I got married.
1. Brad moved in with me in July to save money and he started renting out his condo from July 1-December 31, 2019 for $1,200 per month. In December, he had to replace the heater & air vents in the condo at cost of $900. How do we treat these items? 2. Brad also pays property taxes of $3,790 per year and he pays mortgage interest of $11,000 and mortgage principle payments of $9,000. Are any of these items deductible? 3. My place is inexpensive because we rent from my aunt and she charges us low rent of $500 per month under the table and we give her cash, can we deduct this rent? does my aunt have to recognize this rent if we pay her cash?
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