Primary residence rental 2012 was a rough year. My husband and I were both out of work and we lived off of our savings. We decided to rent out 2 bedrooms in our home to help with expenses. This is our primary residence and we did not make any kind of profit on this. Do we need to fill out a schedule E to report the income? We earned roughly 10K through this rental for 2012. Since this was our only income for 2012 do we still qualify for Earned Income Credit? Or is this type of rental considered investment income and we won't be allowed to claim the credit because it is over the $3,200 limit? |