You'll need to sign in or create an account to connect with an expert.
Honestly, I would ignore it. In these arrangements they usually only pay your mortgage payment, not true fair market value, so you aren't making a profit, and you if you show a loss by adding in other expenses, you can't deduct it. It won't end up being taxable, so reporting the income is more trouble than it's worth.
Honestly, I would ignore it. In these arrangements they usually only pay your mortgage payment, not true fair market value, so you aren't making a profit, and you if you show a loss by adding in other expenses, you can't deduct it. It won't end up being taxable, so reporting the income is more trouble than it's worth.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
frank790628
Level 1
baldeagletransporting
New Member
lcai69
New Member
rhalexda
Level 2
K_lead90
Returning Member
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.