AZ form 201

[2Pat]

What is the name of your state?What is the name of your state? Arizona My renter recently presented me with an AZ 201 tax form to fill out. I have never had a long term renter before (he is 89 and has been in my condo for 6.5 months) and was surprised when I read this form. Evidently, I am required by law to fill it out & return to him. It looks like this form allows him to claim a credit off his taxes (based on a certian percentage of his rent) from the taxes I pay on my condo. Am I understanding this correctly? If so, will this affect my tax deductions when I list the taxes I have paid as one of my expenses or will his credit claim affect my ability to also declare it. When did this law (?) form come into being. I have asked some people who are also renters over the age of 65 & they know nothing about it and are very interested in learning more. Please advise and Thank You very much for your time.

 

[seniorjudge]

What is the name of your state?What is the name of your state? Arizona My renter recently presented me with an AZ 201 tax form to fill out. I have never had a long term renter before (he is 89 and has been in my condo for 6.5 months) and was surprised when I read this form. Evidently, I am required by law to fill it out & return to him. It looks like this form allows him to claim a credit off his taxes (based on a certian percentage of his rent) from the taxes I pay on my condo. Am I understanding this correctly? If so, will this affect my tax deductions when I list the taxes I have paid as one of my expenses or will his credit claim affect my ability to also declare it. When did this law (?) form come into being. I have asked some people who are also renters over the age of 65 & they know nothing about it and are very interested in learning more. Please advise and Thank You very much for your time.

www.fileyourtaxes.com/forms_pubs/2003/AZ-instr201.pdf

 

[2Pat]

Thank You Seniorjudge. Now, when I get my taxes done for this year will his claim deduction affect my ability to get a tax deduction when I include the condo property taxes I paid for the year? It just seems odd to me that 2 people would be allowed to recieve a deduction on the same taxed property.

 

[seniorjudge]

Thank You Seniorjudge. Now, when I get my taxes done for this year will his claim deduction affect my ability to get a tax deduction when I include the condo property taxes I paid for the year? It just seems odd to me that 2 people would be allowed to recieve a deduction on the same taxed property.

Ask your tax professional....