topic I bought the house I had been living in with my daughter. She moved out and two paying friends moved in. Do I report this as a family home, my residence, with income in Get your taxes done using TurboTax

I bought the house I had been living in with my daughter. She moved out and two paying friends moved in. Do I report this as a family home, my residence, with income

eakean — Tue, 04 Jun 2019 19:23:22 GMT

I am 73 yrs old and my roommates may or may not stay. We have no rental agreement, but they pay each month. Is this considered a rental.

Hal_Al — Tue, 04 Jun 2019 19:23:23 GMT

You do not have a rental situation. You are only roommates sharing expenses. You do not report what they pay you, as income.

You also do not deduct any expenses for this activity. You may continue to deduct mortgage interest and Real estate tax, as a home owner.