Partners splitting cost of mortgage count as rental income

Forum|Forum|6 years ago
January 31, 2020
2 replies
22 views

I am polyamorous and live with my partners. I own my home, they’re not owners with me and they give me money to split the cost of sharing the home. Do I count this as rental income when they don’t have a lease? Do they list me as a landlord on THEIR taxes if they don’t have a lease and we’re in a relationship? If I should report then paying towards living with me, should they be eligible for the renters deduction on their taxes?

I already submitted my taxes and didn’t think of this issue until someone mentioned it. Do I need to make an amendment?

Not A Product Question

Bsch4477

Level 15

You are just cost sharing which is not reported on your return.

Carl

Level 11

What matters here is "intent". From what I read you just have a cost sharing arraignment with no "intent" to make a profit. So you're fine and can leave well enough alone.