What does the IRS need to know about the house I bought my son?
Last year my wife and I bought a small house ($140K) for our disabled son. We paid cash. We pay the real estate taxes and insurance. Our trust, of which we are the trustees, is the owner of our home and this second house. My son pays for the monthly utilities. He does not pay us rent. What does the IRS need to know about this, if anything?
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