Rental Income

Feb 05, 2007 1 Replies

I own my home. I let my girlfriend and 2 friends live here with me and I charge them less than market rate for rent. Do I need to claim the rent they pay me as income on my taxes? How can I offset this or deduct from it to negate the taxes I may otherwise owe? Thanks for the information.




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If you're collecting rent, you should be filing schedule E

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-----> real address on hobokeni or hobokenx

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