Rental Concern

Dave C · 2016-07-22T17:42:16+00:00

We purchased a Florida house in 2/16. We intend to first move in, in 9/16. We then intend to make that FL house our State Tax domicle residence (v current CT). Before our purchase offer, we were already living in a leased condo. Thus as part of our purchase offer, we included a clause that the sellers could remain in "their" house, until we return in September. That extended stay offer did not include the seller paying us any rent. They merely agreed to pay their electricity, cable etc usage and maintain the house/ lawns. As compensation for that "free" rent stay, the sellers then agreed to leave a lot of their existing house/yard furnishings (no added cost to us). Should we have any IRS tax concerns, in re to that transaction? Thanks, PS One of my wife/I main goals is to never again owe the usurious CT taxes: income and then estate; as new FL residents.

Jul 22, 2016 20 Replies

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VinnyB 10 years ago

On Mon, 25 Jul 2016 15:16:37 EDT, Alan wrote in

Good points.

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