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April 4, 2021
Question

Renting My Couch in A Rented Apartment

  • April 4, 2021
  • 1 reply
  • 0 views

I rented out my couch for 40 days to a friend (inside my rented apartment). That friend submitted a claim to his insurance company, under renter's insurance. I have received and entered my 1099-MISC with box 1, rent. 

 

Can I claim the rent I pay to my landlord? Or, is it because I don't own anything, then I can't claim any expenses

    1 reply

    April 4, 2021

    I would not report the rental income and I certainly wouldn't try to deduct my rent against it unless I enjoy the possibility of being audited by the IRS.