We receive income from a boarder, but we do not own the property. This property is our primary residence though. How do I report it?

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Yes, you have to report this income. If you collect rent from someone who lives in a property that you rent – even if it's just a room in your house – you're considered a landlord and must report the rent you receive as taxable income. To offset your rental income, the IRS lets you deduct expenses and depreciation related to the rental. The link below has information on how to report your rental income and expenses.

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