catman61
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Unfortunately this tale is an obvious fabrication with several red flags. The most obvious is the "social security" fraud in regards non reporting of rental income. Income from rental property is what is defined as passive income and as such is NOT subject to FICA (social security) & Medicare
FURTHER Since it was actually Jim & Betty's property, it was Jim & Betty's income that should have been declared on Schedule E of Jim & Betty's 1040 every YEAR, not to mention the interest income from the savings account reported by the bank to Jim & Betty each year on a 1099-INT.
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