Kea Posted April 2, 2008 Report Posted April 2, 2008 Client gave me a 1099-Misc with $6334 in box 1 rental from the local housing authority. I asked her what it was. She said she was trying to help her granddaughter afford a place to live. She is renting her a house she owns and the City is paying about 1/2 the rent under Section 8 subsidy. Do I treat this like any other rental? I'm not sure what the fair rental value is in her neighborhood, but I'm guessing if she's getting $1000 per month between granddaughter & City, it should be enough to qualify. Zillow shows house worth $163K. Thanks. Quote
michaelmars Posted April 2, 2008 Report Posted April 2, 2008 ITS REGULAR RENT . treat it like anyother rental Quote
Kea Posted April 2, 2008 Author Report Posted April 2, 2008 Thanks. That's what I figured, but wanted to verify. Quote
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