Why you can’t claim a rental loss when you give your adult children a cut-rate deal on rent

It’s not uncommon for parents to charge their adult children who still live at home below-market rent to help cover some of the household expenses and utilities. But if you think renting your home for a cut rate to non-arm’s length tenants will permit you to claim a rental “loss” on your tax return, a recent tax case may give you some pause. Read More

from Personal Finance – Financial Post https://business.financialpost.com/personal-finance/taxes/why-you-cant-claim-a-rental-loss-when-you-give-your-adult-children-a-cut-rate-deal-on-rent

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