If you are renting your home for less than the fair-market-value of rent, then their use of the home is considered personal use. In this case, you do not report any rental income. However, if you are renting the house at or above the fair-market-value then you need to report the rental income. You can look up the fair market value of rent for your home on the HUD website.
Please view the directions for reporting rental income.
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