Question
If I rent a second home to my parents rent-free, but they pay for their own utilities and help pay property taxes for that home, would any of that be considered "rental income" for me to report under Misc Income?
I want to add that I understand this is a "personal use" property. However, I am not deducting any mortgage interest on this property as it is paid for in full, and I cannot deduct property taxes because I've maxed out the property tax deduction with my primary residence. And regarding the second home, I'm not sure if my parents paying the property taxes would be construed as "income" for me, or if it could be considered a cash gift.
