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New Member
posted Feb 26, 2025 10:05:38 PM

Is sublet/sublease taxable income to declare for rent payment

So, I got a sublease from a friend(I'm a university student). Do I declare this?

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1 Replies
Moderator
Feb 27, 2025 12:11:40 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 the full rent 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.