Collecting rent from others living in my primary residence

[mkivler]

What is the name of your state? Florida

I currently live in a condo (my primary residence), and I am going to charge rent to my girlfriend who lives with me. Three questions here: 1. How do I report the rental income to the IRS? 2. Am I eligible to take depreciation or any other tax writeoffs that I normally would with a rental property? 3. If I sell my condo in six months or later, will I be able to write-off any losses?

[LdiJ]

Originally Posted by mkivler

What is the name of your state? Florida

I currently live in a condo (my primary residence), and I am going to charge rent to my girlfriend who lives with me. Three questions here: 1. How do I report the rental income to the IRS? 2. Am I eligible to take depreciation or any other tax writeoffs that I normally would with a rental property? 3. If I sell my condo in six months or later, will I be able to write-off any losses?

whether or not you claim it as rent really depends on whether its really rent or whether its a couple sharing living expenses. In this case, I would call it a couple sharing living expenses, therefore it would not be taxable income nor could expenses be deducted.

[tranquility]

I agree. I would call it compensation for expenses.