Housesharing

[shewtinstar]

I rent a house in Florida and am the only person on the lease. I take in roommates to help with the cost of the rent and utilities. Is this money to be reported to the IRS and if so, is it tax exempt? Is there a form to submit to the IRS to report this money?

 

[abezon]

If you are acting as a landlord making a profit with subtenants, it is income. If you are simply the primary tenant & the others are roommates paying their share of the rent & utilities, it's not income. The big difference is whether you have a profit motive. This can get very fuzzy, very quickly, so unless you are clearly making money, the IRS won't call it income.