paypal
We own a home but our son is living in the house till we retire. We let him stay there for 150.00 a month and we pay all the utilities he then reimburses us . We get the rent and the utility money through PayPal. So what’s gonna happen to us? Will that be considered income? Thank you
Terry Says
I think it is a two-way gift between family members, and if he notes that it is payment to a “friend” on the paypal app, it shouldn’t raise any questions. Just my opinion, of course. But the IRS isn’t looking for small stuff like this.
See the column I will post on this subject next week!
