Rental Income-Means Test

[JustDo]

Gosh I'm so confused here. My brother and I own a rental property. he has 2/3 interest and I have 1/3.
We receive $2,800 a month in rent and have roughly $2,800 in mortgage/expenses each month. We essentialy break even.

So is this a net zero for me for income in regards to the means test? If not, how much will be counted as income for my means test?

Thank you much for any help.

[Dollar Bill]

Well....sounds like you may be able to skip that one if the number comes out to zer or a negative number.

What proof doou hav thatyour broherowns 2/3?

Say you prove it. Then if you have collected 2800 a month for the last six months then you have $2800 for the gross receipts area. Yourpart of a 1/3 is 933.33 I think. You then would take a 3rd of all expenses which should take you to zero or a negative umber according to what you mentioned. Do not forget your prop taxes per mo, ins, prop management fees etc.

Someone else may recommend displaying the ful $2800 and then itemizing a 2nd sheet detailing where all the expenses are. It would show you paying your brother his 2/3rds.

That's my take!