Can an owner also live in a rental property?
July 22, 2012 1:15 PM Subscribe
Can I classify my house as a rental if I turn my mother into a tenant?
posted by KimikoPi to work & money (6 answers total)
Currently, my mother and I are 50% owners of the house we live in. I also use a room as my home-based office. If we transferred 100% ownership to one of us, could the new 100% owner then classify it as a rental property with the the person being the tenant?
Can you have a rental property for tax purposes where the owner also lives in the house? We're in California if that matters.