Laws regarding renting out bedrooms of your home
I live in Rockford Illinois and I plan on purchasing a property and renting out a couple of the bedrooms with a short lease and contract. I'm having a difficult time finding the correct information online regarding the legality of room rentals in my area. I've searched the topic a number of times and looked under Rockford zoning but I haven't had much luck. I did however read somewhere that any income from renting out your rooms is taxable and must be recorded. I don't know if that's true or not with your home. Any info pointing me in the right direction would be appreciated. Thanks