Home > Boards > The Lounge > The Rules: OTC, NASD, SEC > Taxes (TAX)

Are you charging them rent? The amount they

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
cintrix Member Profile
Member Level 
Followed By 331
Posts 112,701
Boards Moderated 5
Alias Born 12/28/00
160x600 placeholder
cintrix Member Level  Thursday, 07/07/11 01:47:35 PM
Re: jglider post# 542
Post # of 585 
Are you charging them rent? The amount they help pay on utilities would be added to the rent amount. If they are not paying rent I would think that technically speaking, their share of the bills counts as rent:

Expenses paid by tenant occur if your tenant pays any of your expenses. You must include them in your rental income. You can deduct the expenses if they are deductible rental expenses. For example, your tenant pays the water and sewage bill for your rental property and deducts it from the normal rent payment. Under the terms of the lease, your tenant does not have to pay this bill. Include the utility bill paid by the tenant and any amount received as a rent payment in your rental income.
http://www.irs.gov/businesses/small/article/0,,id=238662,00.html

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences