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February 24, 2025
Question

Shared Expenses

  • February 24, 2025
  • 1 reply
  • 0 views

Hello. I own a home and have two people who live with me who we share expenses. Their portion of “rent” goes toward all utilities, internet, home Maintanence such as gardeners, pool, etc. and property taxes. We do share food etc. My portion goes toward paying the house and all in all I’m 70% of the total costs including mortgage etc. their portion combined is about 30% of the total cost of living for the year. Do I need to report this as income?

    1 reply

    Employee
    February 25, 2025

    No. You are just cost sharing.