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Are shared living expense reimbursements taxable?
My girlfriend moved into my house with me. We are going to split expenses down the middle. All bills/utilities are in my name, so she's going to be giving me upwards of $10K/yr. Is that taxable income? Is there some smart way to organize this? I've done a fair amount of googling and I don't see a definitive answer, some people say it's taxable if it's fair market value rent, but then you can depreciate part of the home (reducing cost basis?), others say it's something more like a reimbursement.
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May 31, 2019
5:00 PM