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Posted by fatcat on April 11, 2006, 3:31 am
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I will be able to take a relative not living with me, as a
dependent this year. However, I do not understand how to
calculate the fair rental value of the mobile home in which
he lives (and owns) in Virginia. He lives in a mobile home
community.
Do I simply take a comparable mobile home rent and multiply
by 12 months? Or is there a special formula that I need to
use to calculate this FRV? Can someone walk me through
this? We both live in Virginia.
Thanks,
Mary Ann
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