You'll need to sign in or create an account to connect with an expert.
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.
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.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Heidi_Marcum
New Member
bhJogdt
Level 2
jallynkelley
New Member
Sanctuaryrh
Returning Member
dimi1927
Level 3
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.