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My daughter is a travel nurse and rented a room from me for 6 months of the year. How do I report that income?

 
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4 Replies
Hal_Al
Level 15

My daughter is a travel nurse and rented a room from me for 6 months of the year. How do I report that income?

You don't report it all.  That's not rental income. It's just a family member contributing to household  expenses. 

My daughter is a travel nurse and rented a room from me for 6 months of the year. How do I report that income?

Was this in your own home, or in rental property that you own?  Is she trying to claim a state rent credit of some type, or bill the cost to whomever she worked for?

My daughter is a travel nurse and rented a room from me for 6 months of the year. How do I report that income?

Its my home. Its part of reducing her tax liabilities in other states if she rents something in her home state.

PattiF
Expert Alumni

My daughter is a travel nurse and rented a room from me for 6 months of the year. How do I report that income?

It depends on the rental amount that she is paying to you. The IRS has guidelines for renting below market value.

 

If you rent your property below fair market value, the IRS considers that you do not rent your property to make a profit. In this case, you can deduct your rental expenses only up to the amount of your rental income. You cannot deduct a loss or carry forward to the next year any rental expenses that are more than your rental income for the year.

 

Mortgage interest and property taxes paid are claimed in Schedule A as for your residence.

 

Please refer to this IRS document, especially the section on Not Renting for Profit on page 16 on how to report income and expenses:

 

 

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