I bought a home for my parent to live in. I still have a mortgage on it. My parent doesn't pay me rent. Should I claim it as a second home or a rental?
I bought a home for my parent to live in. I still have a mortgage on it. My parent doesn't pay me rent. Should I claim it as a second home or a rental?
You are receiving no rent for the home. So you cannot treat it as a rental property. It is a second home. You can enter the mortgage interest , loan origination points and property tax paid on a second home.
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