Can I Let My Daughter Live Rent-Free in My Second Home? Tax Implications & Considerations

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Letting your daughter live rent-free in your second home is a generous act, but it's crucial to understand the potential tax implications. The IRS may view this arrangement as a personal use of the property, which can affect deductions for mortgage interest, property taxes, and depreciation. Consult with a tax advisor to fully understand the consequences and ensure compliance with tax laws. Other considerations include insurance coverage and potential liabilities.

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