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scraig63
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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?

 
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Accepted Solutions

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"

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2 Replies

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"

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.  

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