Cohousing-L Mailing List: Re: Tax question concerning co-op house rent

[Richart Keller (richart.keller]

Generally you would be considered a landlord and would file a federal
Schedule E declaring your rental income with adjustments for expenses and
depreciation.  You should talk with a tax attorney about your situation
though.

The federal tax law is usually the main one to be concerned about, though
you will also need to understand how your state tax law treats your
situation.

Rick Keller

On Jun 19, 2015 6:17 AM, "Jay Howard" <jayhoward [at] gmail.com> wrote:

>
> Hi all. My wife and I are buying a house. We want to live in the house with
> another couple. The four of us are currently in community together along
> with others---not co-housing, more like an intentional neighborhood group.
>
> That other couple will not have a lease with us, but they'll pay us monthly
> some predetermined amount. (We don't know what, we haven't closed on the
> house yet.) My question is, how would we handle this come tax time?
>
> --
> Jay Howard
> Spare Key Community <http://sparekeycommunity.blogspot.com/>
> Springfield, MO
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