Letting a friend live at your house
Hello, from the research I have done if a person pays you rent to live in your house it is taxable income. This can take out a significant chunk of money that you would be using to pay down your mortgage.
If the owner of the house pays the mortgage and the other person pays "daily expenses" do the daily expenses have to be claimed as income? Say for example, a friend living at your house would write out checks to pay cable, internet, water, sewer, heating, electric, etc? But not pay "rent" or any of the mortgage?
Thank you for any knowledgeable assistance