Can rental receipt be made to my parents if they pay for the rent?
Can rental receipt be made to my parents if they pay for my rent? In turn, They will be the ones using the receipt for tax purposes.
Hi, DC, and thanks for the question. If your parents are the ones paying your rent, they should be able to take advantage of any tax benefits or deductions for those expenses. Your landlord should be able to make out a receipt directly to them if they’re the ones paying. If you want to explore other ways to maximize your tax benefits each year, be sure to check out our step-by-step guide to Maximize Your Refund here: https://fitsmallbusiness.com/maximize-tax-refund/