taxes for subleasing at a profit?

[ajohnson111]

Do I have to pay taxes if I sublease a non rent regulated apt in nyc at a profit? If so, how do I go about it?

[LdiJ]

Originally Posted by ajohnson111

Do I have to pay taxes if I sublease a non rent regulated apt in nyc at a profit? If so, how do I go about it?

You would file a schedule E with your tax return. You would report the rent you receive as income, and the rent you pay as an expense. However, odds are that it would be best to use a tax professional to prepare your return.