Author Topic: Paying taxes on roommate income! PLEASE HELP!!  (Read 688 times)

jonlopez007

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Paying taxes on roommate income! PLEASE HELP!!
« on: September 21, 2017, 02:25:37 PM »
Hello Friends!
I currently own a home and have roommates that are paying rent; they are living with me 365 days of the year. I know I am supposed to File a Schedule E to report the income and there are many valuable expenses like depreciation, mortgage interest, repair bills, etc. However, I am unsure if these expenses can count since my personal days in that property are 365 AND the fair rental days are 365 days. Has anybody else had this experience? Thank you for your time!

-Jon