I have several questions.
1. My mom owns a building with four apartments, she resides in one, one is vacant, and two are rented out. she has spent over $10,000 in repairs, but, she does not have any receipts, how does she claim these maintenance expenses on tax return
2. Does the building qualify for depreciation
value? According to tax documents, the building estimated
value for 2014 was $550,000, but, for 2015, the estimated value is $324,000.
3. I cosigned on a college student loan for my son, however, I have been making the payments, because he was still in school
, and I still am making the payments, due to him being unemployed. Am I authorized to claim this loan on my taxes? Or does he file, although he is unemployed and I am proving him with 100% of his living expenses.
Thank you very much