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Employee
May 31, 2019
Solved

Do I have to claim rent from a room in my home?

  • May 31, 2019
  • 1 reply
  • 0 views
I rented a room out for an amount each month for 6 months, but it is in my primary residence
Best answer by RalphH

Yes, you have to report this income.

If you collect rent from someone who lives in a property that you own – even if it's just a room in your house – you're considered a landlord and must report the rent you receive as taxable income.

The rent is considered income in the year you received it, even if the rent covers a time period in a different year. In other words, your tenants' rent payment for January of 2014 collected in December of 2013 gets reported on your 2013 return, but a 2013 rent payment that wasn't received until 2014 is reported on your 2014 return.

To offset your rental income, the IRS lets you deduct expenses and depreciation related to the rental. We'll show you how to enter both your rental income and expenses below.
Entering rental income and expenses

See https://ttlc.intuit.com/questions/1894483-where-do-i-enter-income-and-expe

1 reply

RalphHAnswer
Employee
May 31, 2019

Yes, you have to report this income.

If you collect rent from someone who lives in a property that you own – even if it's just a room in your house – you're considered a landlord and must report the rent you receive as taxable income.

The rent is considered income in the year you received it, even if the rent covers a time period in a different year. In other words, your tenants' rent payment for January of 2014 collected in December of 2013 gets reported on your 2013 return, but a 2013 rent payment that wasn't received until 2014 is reported on your 2014 return.

To offset your rental income, the IRS lets you deduct expenses and depreciation related to the rental. We'll show you how to enter both your rental income and expenses below.
Entering rental income and expenses

See https://ttlc.intuit.com/questions/1894483-where-do-i-enter-income-and-expe

Employee
May 31, 2019
i couldnt find a place in other income to report this on my claim so how do i do it on my return