RENT AND REPORT OR NOT

[Sheri R.]

I will be paying cash. He will live in the house alone. I will be paying the tax and insurance. Hopefully he will be able to reimburse me for my expense by making monthly payments to me. I am unsure whether I should report what he is able to pay me as rent and try to deduct expenses to maintain the house. Or just use whatever he is able to pay me pay the expenses of the house and anything more to recoup the cost to me buying the home, about 100k.