House Hacking + Income Taxes
Hey good people,
I'm interested in house hacking a 3 bedroom home. Most of the deals that I've analyzed would have me break even or contribute $200 or less towards the mortgage each month.
I am wondering how this would be taxed come income tax time? A friend of mine told me that I would have to list the rent contributions from tenants as income. Is this true?
Can some house hackers provide insight into this?