Clcole
New Member

Investors & landlords

Im renting my home 1/2 market value to a friend. How shall I report the income? do I get a deduction of utilities or anything else? Since I am renting my home out my homeowners policy doubled, is that deductible? Should I not claim it as a rental due to it is not market value, if so how do I claim the income? its not much but its enough to claim 6000.

Thank You