Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I'm not so sure either. For one, I never requested that she contribute anything towards living expenses. She lived with me for close to a year before she decided she wanted to help out. There is no agreement in writing, and if circumstances didn't allow her to contribute I certainly wouldn't make her leave. The question is larger than just rent--if I spend $100 on groceries and she gives me $50 for her half is that taxable income? How do we determine where the line is? If she gives me a set amount each month, only part of that goes toward actually paying the mortgage. Other parts go towards paying for things that have nothing to do with the actual house. I'm not looking for ways to skirt the rules--just trying to understand what they are.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.