Solved

rented 1 room in basement need info on how to claim money received

Forum|Forum|4 years ago
March 29, 2022
1 reply
0 views

We allowed an acquaintance to stay in our 4th bedroom in the finished basement. We were living in the rest of the house the whole time he was there.

He gave a little money for 11 of 12 months.

How do I figure the percentage of the house he was staying in for expenses?

Is there someplace on TT that will help me only claim the months he paid us?

I'm confused and need prompt help. Thank you

Best answer by KrisD15

To clarify,

First you need to be clear as to whether the acquaintance stayed with you and simply chipped in to help pay household expenses, (not reported) or if they paid "rent" (reported on schedule E).

KrisD15Answer

To clarify,

First you need to be clear as to whether the acquaintance stayed with you and simply chipped in to help pay household expenses, (not reported) or if they paid "rent" (reported on schedule E).

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"