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Can I report rental income in my tax return on a property…

Can I report rental income...
Can I report rental income in my tax return on a property thar is owned by my father? He does not live in the US is not a US citizen and can sign a document to allow me to receive the rental
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Answered in 5 minutes by:
11/10/2017
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,645
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Under US tax law, income cannot be reassigned to another. That means that for rental income it is the owner that is required to report the income.

Under the assignment of income doctrine, a taxpayer cannot avoid tax liability by assigning a right to income to someone else.

A taxpayer (in this case your father) cannot shift tax liability by transferring property that is a fixed right to income. However, your father can assign future income by making an assignment of property for value or a bona fide gift of the underlying property.

I hope this is useful.

A positive 5 star rating is appreciated so I am credited for assisting.

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Customer reply replied 3 months ago
But didn’t quite understand your last paragraph. How can I materialize this?

If your father gave you the property then you can claim the rental. Unless you own the property you do not claim the rental.

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The gift to you would have gift tax implications for your father.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 16,645
Experience: 15years with H & R Block. Divisional leader, Instructor
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Experience: 15years with H & R Block. Divisional leader, Instructor

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