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New Member
posted Mar 12, 2025 1:16:12 PM

I have a home and have an individual paying for some costs to stay with me part-time. Are the monies I received taxable

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1 Replies
Moderator
Mar 13, 2025 4:48:50 PM

If you are charging your friend what you would charge a stranger (fair market value), then it would be income. 

 

If you are just getting enough to cover costs and not enough to make a profit, then you don't have to claim it as income. But you also can't claim expenses either.