The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Taxes and roommates||Date: 6/17/2013 10:52 AM|
|Author: 2gifts||Number: 118699 of 121096|
"Roommate income" IS rental income. It sounds like you're taking the position that DS is the only tenant, and what the roommates pay is something you're not involved in.
I'd rather have him choosing his own roommates and managing that aspect. That is exactly the situation he is in now where he is one of the roommates paying rent to the guy who's name is on the lease. That seems to be fairly common down there.
If you want to make it simpler, why not just take DS out of the middle and make the 2-3 of them the tenants, including DS for his share of the rent?
I wasn't necessarily after simplicity.
Other things I should be considering here?
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|