Legal Question in Tax Law in California

My mom and I inherited a property, we rented out the property 6 months ago, should I report split income tx even if she's not getting a penny out of it? (California)

Asked on 3/10/14, 2:35 pm

1 Answer from Attorneys

William Christian Rodi Pollock

Afraid you will need to provide more information. Are you both on title? Why would she not be getting half of the rent aend paying half of the expenses. Is she making a gift to you? I would normally expect an even division between co owners of the benefiits and burdens of the property. Why is she not getting a penny?

Read more
Answered on 3/10/14, 2:40 pm

Related Questions & Answers

More Tax and Taxation Law questions and answers in California