Investors & landlords

Are you renting a separate home to your son?  Or are you renting a room in your home to your son?

Do you have a formal rental agreement?

Rental income is reported on a tax return regardless of who the renter may be, relative or not. 

 

However, if your son is paying for a room in the home where you also live then that is just a family member sharing expenses for the home and would not be rental income.