If I live with my parents and use a portion of the house strictly for my sewing business, can I claim it as a business expense if I do not pay a formal rent?

sewsewsew — Thu, 06 Jun 2019 05:26:51 GMT

I live with my parents in the home they own outright and use a room in the house for my sewing business. I do not pay a formal rent, but I contribute the equivalent of rent to our household each month (about $700.) Can I claim this as a business expense if I do not have a formal lease? The room is used solely for business. Also, are there any forms of proof that would be helpful to claim this? I mainly have domestic bills that I pay via accounts in my name (food, phone, internet, etc.) Thanks so much for any help with this!

You can claim what you pay as rent. But your parents will...

Carl — Thu, 06 Jun 2019 05:26:53 GMT

You can claim what you pay as rent. But your parents will have to report it as rental income on SCH E if you do that.

topic If I live with my parents and use a portion of the house strictly for my sewing business, can I claim it as a business expense if I do not pay a formal rent? in Investors & landlords

If I live with my parents and use a portion of the house strictly for my sewing business, can I claim it as a business expense if I do not pay a formal rent?

You can claim what you pay as rent. But your parents will...