"Jason" <jasonnews[at]mail.com> wrote:

- quote -

As rental income.

- quote -

You're receiving the benefit of having someone else pay your
utilities, which is taxable income.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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Jason wrote:
- quote -

Schedule E. You should also note relevant expenses
and depreciation.

- quote -

Yes. It's still reportable.

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jasonnews[at]mail.com (Jason) wrote:

- quote -

For this year, at least, go to a tax professional. You are
talking depreciation, etc.

Missy Doyle

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If I rent out 2 rooms in my home for $400 a month each how
is this income reported and taxed?

Another question:

If I was to allow someone to rent a room for free in
exchange for paying for the Utilities (Electric,water,
cable, ect.) Which totals about $500 per month would I need
to pay taxes on that since I'm not really recieving
anything?

Thanks

J

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