Logos <tyler.style[at]gmail.com> wrote:

- quote -

Rather than structure this as a rental property, I'd see
if it can't be a cost-sharing arrangement. You pay mortgage
and property taxes and probably other stuff and he pays
utilities and maintanance and food and cable, etc.

If the cost sharing arrangement works Ok, there's no
taxable income or deduction here.

--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

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I'm sure this question has been asked before, but I can't
seem to sift thru the search results to find exactly what
I'm looking for. Hopefully someone will be kind enough to
answer what is likely the umpteenth time this question has
been asked

I bought a house last year, and recently acquired a
roommate. He's a coworker who wanted to be closer to work,
and didn't much care for his former roomies anyway.

We pretty much share the house equally (it's a two bedroom)
and all utilities. I pay 2/3 the mortgage, he pays half (he
can't afford anything more than that). We split the
utilities evenly.

Should I report any of this as income? It comes to about
$6000/yr. If so, how do I report it? I've seen bits and
bobs about a schedule E talked about, so far, but that means
little to me.

Is this situation to my advantage tax-wise, or to my
detriment? (ie, have I made a bad tax situation for myself
by acquiring a roomie?)

Thanks for any advice!

Tyler

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >