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Updated over 4 years ago, 07/14/2020

User Stats

58
Posts
11
Votes
Colin Spivey
  • Rental Property Investor
  • Nashville, TN
11
Votes |
58
Posts

Claiming Rent When House Hacking

Colin Spivey
  • Rental Property Investor
  • Nashville, TN
Posted

I am closing on a town home next week that I plan to use for house hacking. I am living in one room and renting out the other two rooms for $650 a month/each room plus a third of utilities. Off of my estimations, I should be right at the break even/living for free point or I may even make $50 or a little less a month. My question is, do I claim the entire rent as income, just anything I make over what I spend on the property, do I have to claim what they pay me in utilities as income as well, or how does it work with it being a primary residence and not an actual sole rental property? Thanks!

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