How do I report my property if I own the house and receive rental income from tenants living WITH me?

January 27th, 2010 | Author:

I bought a home in 3/07 as my primary residence. I am childish so I also have roommates living with me. How do I report this property and the leasing income? Investment income? Leasing property?

I just went through turbotax and I am pretty baffled about this. Thanks for your help!

Posted in Rental Properties | Tags: from, house, income, living, Property, receive, Rental, report, tenants

One Response to “How do I report my property if I own the house and receive rental income from tenants living WITH me?”

v b:

January 27, 2010 at 8:04 am

Read periodical 527.
Are you renting at full market value or not?

If not, you place the rent on line 21 as leasing income and the prorated expenses (up to the amount of rent) on schedule A.