Yes, it does. Renting it (if you want to call it that, I don't) at below market rate to the MIL consititutes personal use. Therefore, it is personal use the entire year and that rule applies.
Call_Me_Op wrote:Taylor, I think in this case the problem was not so much in his wife buying the bond funds. It was in his not explaining what she might expect (that is, the risks).
jebmke wrote:There is an easy way to sort this out. Call the IRS and ask them.
AnnuityAce wrote:The nice thing about SMA's is that the payee is not the property owner/borrower, but is an AA rated company like Met, NY Life, or similar.
Rick Ferri wrote:...even though in the long-term a diversified stock portfolio has never lost money.