- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My son lives with us and paid rent for a few months when he could afford it. Do I have to claim this income on my 2017 taxes?
Topics:
posted
June 6, 2019
1:41 AM
last updated
June 06, 2019
1:41 AM
Connect with an expert
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My son lives with us and paid rent for a few months when he could afford it. Do I have to claim this income on my 2017 taxes?
Yes, this is reportable income. If the rent was below fair market value then this is reported on line 21 by doing the following:
- Click Federal
- Wages and Income
- I'll Choose what I work on
- Scroll down to Less Common Income
- Click Start next to Miscellaneous Income
- Scroll down and click start next to Other Reportable Income
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 6, 2019
1:41 AM
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My son lives with us and paid rent for a few months when he could afford it. Do I have to claim this income on my 2017 taxes?
Yes, this is reportable income. If the rent was below fair market value then this is reported on line 21 by doing the following:
- Click Federal
- Wages and Income
- I'll Choose what I work on
- Scroll down to Less Common Income
- Click Start next to Miscellaneous Income
- Scroll down and click start next to Other Reportable Income
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
June 6, 2019
1:41 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My son lives with us and paid rent for a few months when he could afford it. Do I have to claim this income on my 2017 taxes?
You are merely sharing expenses as opposed to having a business relationship. I do not believe you have to report that income.
June 6, 2019
1:41 AM
Still have questions?
Make a post