IRS Question About People Who Renting to Relatives
Caller: "What does the law say about people who are renting to relatives and taking a loss on the property?"
IRS: "You are required to charge them fair market value."
Caller: "It's very fair. If we rented to someone else we could get a lot more."
IRS: "You are required to charge them fair market value."
Caller: "It's very fair. If we rented to someone else we could get a lot more."