Running A Daycare From My Parents' Home
I have been running my daycare from my parent's home. I give my parents a few hundred dollars a month for my share of expenses. I know that I'm not able to claim expenses on Form 8829 for business use of home, since it's not MY home. However, if my parents claimed the amount that I give them as rental income, would THEY be able to file Form 8829, and if so, how would the rules differ for them in what they could claim - as far as how much square footage, operating hours, etc. Or is that even the right way to do it? Should they ONLY file Schedule E & claim all expenses there? I just want to do it right and make sure we both get all the deductions we're allowed. Thank you.
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house expenses
Originally Posted by Unregistered: |
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