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Level 1
November 25, 2022
Question

Do I owe taxes on money adult family members living with me pay me to cover their expenses?

  • November 25, 2022
  • 2 replies
  • 38 views
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2 replies

Level 15
November 25, 2022

No.  Family cost sharing does not get entered on a tax return.

**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.**
Hal_Al
Level 15
Level 15
November 25, 2022

No.

If this is merely a cost sharing arrangement where the amount paid is below fair market rental value, there would be no reportable income to you. Most people take the attitude that it is not income; it's just room mates sharing expenses and ignore it. Family, as opposed to unrelated roommates, makes that position even stronger.