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Get your taxes done using TurboTax
I still don't know if this answers all my questions. We had a large retirement withdrawal and have to pay taxes this year. If I put the rent down as not for profit then I owe another $1k. Which if it is correct than that is fine. I just want to be sure because I put all the money straight to household bills and it was only his fair share and actually probably less. SSI refers to this money as rent. Is the SSI label of rent enough for it to be considered taxable?
Also, when you rent not for profit, the deductions have to be itemized correct? I don't think I have enough deductions to itemize anything so I can't zero it out. I am not sure about that second part. I am going to log into TurboTax and check it out again.
‎April 13, 2023
7:51 AM