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Updated about 3 years ago,

User Stats

7
Posts
4
Votes
Alex Del
  • New York
4
Votes |
7
Posts

How Do You Bookkeep Utility Payment from Tenant (tax purposes)

Alex Del
  • New York
Posted

Hello all, 

First post here.  I am currently coming to the end of my first year in a house hack and I am checking over my documents and bookkeeping before tax time.  The setup is as follows: 2 family, separate, propane for cooking and heating oil; shared electric (one meter for building); septic and well.  

With regard to the electric, I charge a flat 100 per/month.

I have been using Stessa for bookkeeping purposes.  I have everything tracked through that and a spreadsheet as a redundancy.

My question is: do I label the Income for the 100 per/ month electric charge as rents? I don't see any other applicable place for it.  

Any advice would be greatly appreciated,

Alex   
   

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