Filing for Rental Tax
Hello,
I’m getting ready to file my taxes and add in my rental income. My tax advisor is saying that because I rent my two properties below fair market value that the IRS doesn’t count my rental income because I’m not making profit or something to that nature. I live in one of the units and rent out the other two way below fair market price but I wasn’t sure if anybody has gone through this or if that’s accurate information. Any insight?