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New Member
posted Jun 6, 2019 2:33:13 AM

How to file rent for a room in my house

I have put a room on rent in my house. How to file income of that room for tax ? What documents do i need as proof of filing? Is bank statement showing transaction sufficient.

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1 Best answer
Intuit Alumni
Jun 6, 2019 2:33:14 AM

Enter your income and expenses in the Rental section of the Premier Edition. Please see the screen shots below for the important screens to designate your property. On the first screen below, check that you rent a part of your home. If it is a straight division of expenses (say 75% personal, 25% rental) you can have Turbotax do the calculations. You do have bank records as proof of income, but you should have actual receipts for expenses.

Edited 4/2/18

3 Replies
Intuit Alumni
Jun 6, 2019 2:33:14 AM

Enter your income and expenses in the Rental section of the Premier Edition. Please see the screen shots below for the important screens to designate your property. On the first screen below, check that you rent a part of your home. If it is a straight division of expenses (say 75% personal, 25% rental) you can have Turbotax do the calculations. You do have bank records as proof of income, but you should have actual receipts for expenses.

Edited 4/2/18

New Member
Jun 6, 2019 2:33:16 AM

How do you get to the 3rd screenshot to have Turbo do the math?

New Member
Jun 6, 2019 2:33:17 AM

In order to get the 3rd screenshot you need to choose "rented all year"(the type of rental" doesn't make much difference). See my similar question/resolution comments afterward at <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/3957816">https://ttlc.intuit.com/questions/3957816</a>