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Old 01-05-2015, 12:42 AM
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Room/House rental question

Last year my office was moved to another city approximately 130 miles away.
I got an apartment near my new office and took on a roommate who stayed in my house in August for a flat monthly rate of $900.

He has full run of the house except for the master bedroom (he uses the kitchen (only his food is in the refrigerator), the theater, living room, extra guest rooms when his family is in town, etc). I am only home approximatey every other weekend.

Is it possible to calculate expenses based upon an equal split or an equal split only for the number of days I am also using the home? What types of split are possible in this situation?

Also what expenses could I incluse (mortgage payment principle, interest, insurance, taxes, water, electric, gas, internet, home alarm, directv, etc)

Thank you.



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Old 01-05-2015, 04:26 AM
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Is it possible to calculate expenses based upon an equal split or an equal split only for the number of days I am also using the home? What types of split are possible in this situation?========>>>>>>>>>read below


Also what expenses could I incluse (mortgage payment principle, interest, insurance, taxes, water, electric, gas, internet, home alarm, directv, etc)===========>>>>>>>>>you need to report your rental income on Sch E of 1040 only if you are technically on the lease .Anyway in your case the IRS would say that you are renting part of your property. This is very different from renting all of your primary residence part-time while you are away. The roommate is not taking over your bedroom while you are on vacation, so there is no need to determine how many days each of you spent in the house. UNLESS you own the apt, you can not claim mortgage payment principle, interest, insurance, taxes, but aslongas you report rent as income you may claim water, electric, gas, internet, home alarm, directv or etc. however, if you are paying just your half and get the other half which is payable by your roommate and if both of u are on lease, then, it is not income, it is just adjustment between you and your friend, so, no problem.



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Old 01-07-2015, 07:03 AM
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This is very different from renting all of your primary residence part-time while you are away. The roommate is not taking over your bedroom while you are on vacation, so there is no need to determine how many days each of you spent in the house.



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