How to Report Rental Income with Owner Occupied Property

[Tiffany Smith]

Greetings BP Forum Members,

I am currently occupying my recently purchased first property. I have secured one tenant for renting out 1 of 3 available rooms and plan to rent out all remaining.

I have a very generic question regarding reporting the rental income. Does it classify as rental income or can it be disclosed as something else? I am completely unfamiliar with tax code and will be reporting the income for half of 2014 next year.

Any help is appreciated.

Tiffany