Hello. In 2014 I was awarded a house said to be worth $75,000. I wrote an essay and had a series of interviews and I was the person they chose. I do not officially own the home yet but I am currently "acting owner". I pay all property taxes & keep up with maintenance. In 5 years I will be given the deed to the home. Per my contract for that to happen, I was required to keep up maintenance, property taxes, complete a finance/savings class & a home owners class. My question is, once this house is given to me & I officially own it, will I have to report the worth of the house as "income" when I file?