My parents' home caught on fire so they are staying over at my place. Through the advice of their insurance agent, we drafted up a lease agreement ($2500 month-to-month) where the landlord is me and the tenants are my parents. Therefore, they are getting $2500 every month from insurance into their pockets.
Now, I am not actually receiving any money from them. They are keeping all the loss-of-use checks.
Will I be liable for any taxes? Do I have to file 1099-misc?
Submitted November 10, 2018 at 06:11AM by catsuramen https://ift.tt/2Df3VEz