We allowed an acquaintance to stay in our 4th bedroom in the finished basement. We were living in the rest of the house the whole time he was there.
He gave a little money for 11 of 12 months.
How do I figure the percentage of the house he was staying in for expenses?
Is there someplace on TT that will help me only claim the months he paid us?
I'm confused and need prompt help. Thank you
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To clarify,
First you need to be clear as to whether the acquaintance stayed with you and simply chipped in to help pay household expenses, (not reported) or if they paid "rent" (reported on schedule E).
To clarify,
First you need to be clear as to whether the acquaintance stayed with you and simply chipped in to help pay household expenses, (not reported) or if they paid "rent" (reported on schedule E).
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