House hack: Pros and cons of reporting rent

[Justine Scheuher]

Hey! Just curious what everyone is doing/has done in the past with rent. Did you file the income on your tax returns? I’ve been house hacking for 1.5 years and have never reported it. After  talking with a bank..I now see there are some pros—for example when applying for a new loan, 100% of that rental  income can be reflected as income (opposed to 0% if you have no documentation or only 75% if you have a signed lease).