Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
angdavis
New Member

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

 
1 Reply

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

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.