Is child’s room and board considered taxable income for parent

[MAG51]

Is child’s room and board considered taxable income for parent?

[macuser_22]

Yes.   There is no deduction for a child's living expenses.

[xmasbaby0]

Are you asking about room and board for college-----or in some other context?

[MAG51]

My 20 year old son has a full time job and still living in our home.

He pays us a monthly room and board.

I wanted to know if that room and board is considered taxable income for his mother and I?

[MAG51]

He is not currently in school.

[xmasbaby0]

That sounds like simple family cost sharing----not something to report on a tax return----unless you have some sort of written lease agreement with your son.

[Mike9241]

you're sharing expenses. it is not taxable.