Rental Income Taxes

[Nick Lawler]

I am currently house hacking and renting out a couple bedrooms to some Navy friends but do not have them under a rental lease, however, I collect rent on a monthly basis. I am not sure of how this will affect my taxes for next year and am in need of some help or direction to a good tax advisor. Am I still required to document this on my taxes as passive income or would I have to have proof via a lease agreement to do this? If I don't record this passive income, the money is tax free since it is under the table, but am I able to take advantage of depreciation and other deductions of a rental property? Am I able to call it a rental property since I am owner occupying? If anybody has experience or knows of a good tax advisor to recommend in the Portsmouth, NH area or surrounding area down to Boston, I would like to hear your thoughts!