Thursday 25 September 2014

Considering there are no tax issues to give someone money under $13,000 in a year, is it ok to collect rent or interest payments from a fami...

Question

Considering there are no tax issues to give someone money under $13,000 in a year, is it ok to collect rent or interest payments from a family member who is living in a property I own? I'm talking about less than $4000 a year and don't want to have to claim it as income.



Answer

The answer is no.



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