Can my child earn income on a property she doesnt own?
I was about to transfer to her, and it was all ok but then became very complicated and I try to keep my life simple. It's possible to transfer to her but something I'd rather avoid.
SO, she received the rental income in her bank account, and I will always do tax returns for her for that rental income.
Question is: is this kosher?? Can she earn rental income when the property is in MY name? (the reason I'm doing this is to minimise my taxable income and keep it below certain thresholds)
I was about to transfer to her, and it was all ok but then became very complicated and I try to keep my life simple. It's possible to transfer to her but something I'd rather avoid.
SO, she received the rental income in her bank account, and I will always do tax returns for her for that rental income.
Question is: is this kosher?? Can she earn rental income when the property is in MY name? (the reason I'm doing this is to minimise my taxable income and keep it below certain thresholds)