She receives the maximum amount of SSI for a person living at home. We charge her the fair market value of what it would cost to rent a room in our home. We do not profit from the rent she pays us, as her share of our actual mortgage payment would be much higher. In addition to the rent, she pays us a monthly amount toward food and utilities. Is the rent she pays us considered taxable income, or is she simply sharing living expenses with us? There is a lot of conflicting information about this topic online and I can't find a specific reference to it in the IRS code.
