Cat-tirement
Recycles dryer sheets
- Joined
- Mar 30, 2013
- Messages
- 285
In a couple of months we will be moving DW's mother in to live with us, which we all expect to last for a year or two. She insists on paying us some monthly amount to help with household expenses and utilities. Do I need to go through all the hassle of treating and reporting this as rental income, including rental expenses and depreciation? There won't be anything formal like a lease. We will just be extended family living together.
I'm guessing that others here have been in a similar situation at some point. How did you handle it?
I'm guessing that others here have been in a similar situation at some point. How did you handle it?