How to report roommate rent if profit is made?

I own an apartment and I just got two roommates. I am charging $900 each ($1800 total), but my mortgage and condo fee are $1200 total. How do I declare that?

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You will need to use TurboTax Premier or higher and then go to the rental section. You will add your income and expenses since you are renting for a profit. A schedule E will generate that reports your rental income.

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