Investor Mindset
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated 10 months ago,
Tax Question: Living with Partner - Charging Rent - Write Off on Taxes?
I purchased a home 2 Years ago near olde town Arvada. I've done a lot of work, but it also was completely gutted previously. My partner lives with me, but I pay for 95% of utilities, etc. as well as all furnishings, remodel, etc.
She only pays the electrical bill. We are not married, but I charge her 'rent' which is a little less than 1/2 the mortgage.
Are there any tax benefits to saying she's a renter and I'm the landlord? Or just leave as-is?
At the end of the day, it adds up a lot, and she's willing to sign a lease - I just only want to do so if there;s a benefit for me.
Working on taxes now - so any advice is helpful!!
Thanks,
Katie