what are tax expenses of renting out 3 rooms in my apartment (pay, rent)

[michellesouthwell]

what are tax expenses of renting out 3 rooms in my apartment

when are taxes due for 2013 where I rented rooms in my apartment.
I live in New York, where and who do I pay?

[flyonpa]

What Taxes?
Income?

Federal
State
City

Other Taxes?

[Gandalara]

The rent you receive is taxable income that you must report to the IRS and the income can be fully or partly offset by deductions of rental expenses.

If you rent out a room in your home, the tax rules apply to you in the same way as they do for landlords who rent out entire properties.

[mathjak107]

i would imagine depreciation and recapture would be a mess to deal with.

[michellesouthwell]

What Taxes?
Income?

Federal
State
City

Other Taxes?

yes all tax types

[michellesouthwell]

is the rent I pay to landlord considered a deduction?

If I was not renting rooms, I would only have a studio and not 3 extra rooms.

[mathjak107]

You can deduct the rent you pay the landlord for the rentals ,your share of the rent is not deductable.

[LordSquidworth]

Are you renting your property or adding roommates? Sounds like the latter and your over complicating it.

[flyonpa]

Since you are replying "all types" I strongly suggest you engage a tax professional . If you are that clueless on what taxes you need to pay and where to file them, you need to have someone else do them for you.

[midwestlaxer]

Originally Posted by flyonpa

Since you are replying "all types" I strongly suggest you engage a tax professional . If you are that clueless on what taxes you need to pay and where to file them, you need to have someone else do them for you.

+1