Income from Managing Family Rental Property
My husband manages his mothers rental property. From the profit--she gives him $200 each month. He is power of attorney for her and she already pays taxes on the income from the rental property. Do we have to claim the $200 monthly income on our tax return? I was told it could be considered a "gift"--there is no documentation that my husband works for her or techincally manages the property--he isnt really employed by her.