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URL:  https://boards.fool.com/ptheland-i-think-you-just-made-the-fools-25-fee-21002882.aspx

Subject:  Re: Letting out a room in primary residence Date:  7/9/2004  5:47 PM
Author:  dsracic Number:  72486 of 132175

ptheland, I think you just made the Fool's $25 fee worth the money this year. Thanks!

So, what this comes down to is that I can go two routes, report, or not report.

Reporting:
Take depreciation (good thing)
Take 50% interest as tax write off (for residential half - good thing)
Take 50% interest as tax write off (for rental half - good thing)
Take 30% loss on total rental income (taxes - bad thing)
Take 50% of utils/maintenance as tax write off (for rental half - good thing)

Not reporting:
100% of interest as tax write off (good thing)
100% of rental income (good thing)
0% of utils/maint deductible (bad thing)

Did I miss soemthing else here? It looks like my best bet is to save all the bills/receipts that I'd need if I report, add it all up with whatever depreciation benefits there are, and see if that deduction offsets the 30% of rental income I'd lose, right?
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