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House burns down, renting from parent,


WITAXLADY

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Renting from parent - a trailer home and the insurance is paying that - but does the parent have to claim the rental income?

My take is of course -But Is there an exemption? special provision?

I can't think of any - Parent could pay the utilities - and that would be an expense.. some depreciation, furnishings..

But it would be income..

Thank you for any advice and clarity.

D

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