Question
Reporting as rent or shared expenses?
I live/file taxes in Virginia. I own a 2 bed condo unit where I live as my primary residence. In 2023, I let a friend (non-related and not romantically involved) move into one of the rooms and we share everything space-wise except our respective bedrooms. Each month they give me a set amount of money to cover condo fees + a little bit of my mortgage. This might count as rent, but it's more like shared expenses as I don't charge for profit and what she pays would be considered below market value for this area. I've read a lot of conflicting information about how to report this "rent" money or if it even needs to be reported. If it does, what form(s) do I need to file and/or sections do I have to fill out?
