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Updated over 7 years ago on . Most recent reply

User Stats

61
Posts
21
Votes
Joshua Savage
  • Rental Property Investor
  • Memphis, TN
21
Votes |
61
Posts

Can I claim a rental on my taxes when renting to family?

Joshua Savage
  • Rental Property Investor
  • Memphis, TN
Posted

I own a home that is rented out by my brother.  I have never claimed the home on my taxes.  I am attempting to get new loans and since this home is not showing income, it counts against me as a monthly note, thus limiting by purchasing power.  

Can I claim this rental on my taxes, and if so, what is the best way to do so?  Thanks!

Most Popular Reply

User Stats

1,603
Posts
918
Votes
Arlan Potter
  • Investor/Accountant/Builder
  • Meno, OK
918
Votes |
1,603
Posts
Arlan Potter
  • Investor/Accountant/Builder
  • Meno, OK
Replied

If your are charging rent, paying expenses, then it is a rental and goes on a schedule E. see a good CPA

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