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KRiles
Level 1

Live with boyfriend who splits mortgage payment on home I own and utilities and uses Venmo to pay me

My boyfriend lives with me in a home that I purchased and pay a mortgage on. We split the mortgage payment plus the utilities. He pays me using Venmo. Do I have to include this payment as income?

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kdevere
Employee Tax Expert

Live with boyfriend who splits mortgage payment on home I own and utilities and uses Venmo to pay me

Great question!  It is a bit of a fine line, but since it is your boyfriend, and isn't considered a rental property, as it is your personal residence, not being conducted for profit, or rented at fair market rates, it falls into the category of shared living expenses.  The only real issue is the mortgage interest deduction if you itemize.  You should only be deducting 1/2 or whatever the amount is you are paying for the year of the mortgage interest.  
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kdevere
Employee Tax Expert

Live with boyfriend who splits mortgage payment on home I own and utilities and uses Venmo to pay me

Great question!  It is a bit of a fine line, but since it is your boyfriend, and isn't considered a rental property, as it is your personal residence, not being conducted for profit, or rented at fair market rates, it falls into the category of shared living expenses.  The only real issue is the mortgage interest deduction if you itemize.  You should only be deducting 1/2 or whatever the amount is you are paying for the year of the mortgage interest.  
**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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