If this is sharing living expenses towards your bills, you do not need to report this as income.
If this is actual rent as a discounted rate versus shared living expenses then you would need to include this as income on line 8 Schedule 1 of your form 1040. You would do this by reporting the income under less common income by selecting the following:
- Federal
- Income and Expenses
- Scroll down to Less Common Income and click Show More
- Start next to Miscellaneous Income
- Start next to Other Reportable Income
You will not be able to include any rental expenses if this is not reported as other reportable income.
@snokeslaw (Edited 2/27/2025 @8:11AM PST)
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