Question by Terry Burns: How many twenty somethings or adult children still live at home with parents?
Does anyone know percentage of adult children/twenty somethings still living at home? Any good articles or 2011 census results? Please help because this will help my relationship with my father. He is mean and yells at me. He tells me I am not normal because I’m still living at home at age 25. (I have only moved back in with them a few months ago while I recover from multiple suregeries). He does not care about my health, only cares about money.
Answer by David
“still” is a precarious adverb. like yourself, many move out and move back, which would vary the circumstances a bit. i get where you’re coming from, you want to make an argument, but your circumstances differ from the average joe.
i’m close to a similar crisis. i would question, if you’re really rehabilitating, wouldn’t your father empathize? are you trying hard enough? if you are, then you need to either do what you can to find another place to live, figure out how to appease your father, or suffer him and realize that it will slow your progress.
What do you think? Answer below!
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Question by gisbize: If you own a company and the company pays home office rent, does the company have to 1099 the owner?
If you own a company and the company pays home office rent, does the company have to 1099 the owner? In other words, I assume the office rent is rent exp to the company and the monies rec’d by the owner is rental income. How is the rental home rent income classified on the personal tax return.
Answer by Audrey A
The company would need to send the owner a 1099-misc for any rents paid to them if the owner is not incorporated. For example, if the owner is an individual, an LLC, or a partnership, they will need to send them a 1099 for the amount of rent paid to them as it is income. If the owner is an incorporated company, they do not need to do this. Regardless of the owner, the company will report it as rental expense on their tax return
Since you are asking how the income is classified on a personal tax return, I assume its an individual you are asking about. They would report it on Schedule C of the 1040 as rent income.
I hope that makes sense. Good luck.
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