Obviously you should consult a tax professional if you are concerned. It as I understand it, the home is deeded in your name. If thatu2019s true, you own the home. I am assuming they transferred ownership through a quit claim deed and they have no ownership rights. Since you are not personally in the rental business you have no rental business to report to the IRS if in US. At the same time, you have given permission by default for your parents to use your house as a rental business. They might be filing a business tax return for their rental business. I am guessing that they pay the taxes, insurance and all expenses so they deserve the income. Since they donu2019t own the home, they likely canu2019t write off depreciation. Your taxes might get questionable if you try to deduct real estate taxes paid if you didnu2019t pay them. If all of this bothers you and depending on your relationship to your parents you could transfer ownership back to them via a quit claim deed and pay the required filing fees. There would be a potential liability issue of course to you if you continue as is. You are owner of record and could be sued if someone was hurt or damaged in the home. Not sure if your parents can book insurance since they are not the home owners. Sounds a bit shady.