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Question

Rental income on shared housing

Forum|Forum|1 year ago
November 22, 2024
1 reply
0 views

I just purchased a house to live in family members and they are going to eventually pay rent to share expenses. Do I have to claim that as income? They are my care givers as well

Employee

Family cost sharing does not get entered on a tax return. You say they will be paying "rent"-----provide details. Are they signing some sort of rental agreement or lease? Or just helping with expenses within the family? And....explain "they are my care givers..."----are they being paid to take care of you----or, again, just helping out within the family?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**