I bought a house under my mom's name. She is a US visitor from China.
Since my mom stays in US more than 180 days in 2011, she is my dependent and has a tax ID assigned by IRS. she doesn't have any income in US... but now in 2012, since i bought the house under her name... How can i file tax return going forward... Can i still treat my mom as my dependent? or Does my mom need to have her own Tax returns? She is going back to China in May, Does she need to file her own tax return in 2012? or can she just ignore tax return although she has an investment property under her name? What i am worried is if in case any issues - such as tenant doesnt pay rent etc... if i have tax return filed, i think at least if need go to court.. i have legal document to protect.
I am thinking to sign a power of attorney with my mom so that i can help her manage the property. Any advice?
thanks