Understand tax costs of family tenants

Understand tax costs of family tenants
Michael LaurenceJuly 11, 2013

Landlords sometimes fail to consider the tax consequences of letting family and friends stay for a few weeks a year in investment properties without paying rent or paying a below-market rate.

Deductions are unavailable for periods when someone occupies a property without paying rent.

And if a below-market rent was charged, you are not entitled to full deductions for costs.

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