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babbitts
New Member

I share a space with two others. They give me their portion of the rent payment and I pay the full rent to the landlord. Is that income?

 
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PaulaM
Expert Alumni

I share a space with two others. They give me their portion of the rent payment and I pay the full rent to the landlord. Is that income?

No, that sounds like you have roommates. If you aren't keeping the rental payments for yourself (turning it over to the landlord), then that is not rental income.

However, if you are renting a part of your space to others and they pay more than their proportionate share of rent to you, then that would be rental income to you.

Ex: You lease a space for $1200. Roommates share would be $400 each. But you charge them $600 each instead. The $200 ($400 for both) is rental income to you.

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5 Replies
PaulaM
Expert Alumni

I share a space with two others. They give me their portion of the rent payment and I pay the full rent to the landlord. Is that income?

No, that sounds like you have roommates. If you aren't keeping the rental payments for yourself (turning it over to the landlord), then that is not rental income. However, if you are renting a part of your space to others and they pay more than their proportionate share of rent to you, then that would be rental income to you. Ex: You lease a space for $1200. Roommates share would be $400 each. But you charge them $600 each instead. The $200 ($400 for both) is rental income to you.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
SweetieJean
Level 15

I share a space with two others. They give me their portion of the rent payment and I pay the full rent to the landlord. Is that income?

OP is asking from TT Self-Employed. This sounds like a business rental, as Op used the word "space," not home..
PaulaM
Expert Alumni

I share a space with two others. They give me their portion of the rent payment and I pay the full rent to the landlord. Is that income?

No, that sounds like you have roommates. If you aren't keeping the rental payments for yourself (turning it over to the landlord), then that is not rental income.

However, if you are renting a part of your space to others and they pay more than their proportionate share of rent to you, then that would be rental income to you.

Ex: You lease a space for $1200. Roommates share would be $400 each. But you charge them $600 each instead. The $200 ($400 for both) is rental income to you.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
adelmancilla
New Member

I share a space with two others. They give me their portion of the rent payment and I pay the full rent to the landlord. Is that income?

I have a question here. Then the person need to declare the total lease payment or only the portion he/she needs to pay?
SweetieJean
Level 15

I share a space with two others. They give me their portion of the rent payment and I pay the full rent to the landlord. Is that income?

Declare where? Is this for a business?  Or for a state tax rent deduction/credit?
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