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dom_2019
New Member

Can y'all walk me through the 1040 and schedule E forms I'm assuming I have to report taxes if I rent my bedrooms with shared living in my house under market value?

 
2 Replies
Critter
Level 15

Can y'all walk me through the 1040 and schedule E forms I'm assuming I have to report taxes if I rent my bedrooms with shared living in my house under market value?

If you simply have a "roommate" situation then you do not need to report any of the income in this situation.

 

If this is a formal rental situation and you are renting below market value then the program will walk you thru this not for profit rental screen by screen.   If  you need personal assistance then upgrade the the LIVE Premier version for that kind of assistance.

Carl
Level 15

Can y'all walk me through the 1040 and schedule E forms I'm assuming I have to report taxes if I rent my bedrooms with shared living in my house under market value?

Can y'all walk me through

That is *EXACTLY* what the program does if you'll just work it through and read each screen before you enter data or make selections.

 

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