Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
?I know a guy that owns a home and isnt married so he rents out to 2 others and they each pay 1/3 of the cost. Does the home owner have to report this as income?
If he asks for the rent in cash then he's definitely not reporting it. If he accepts checks then he probably is, but not for sure.
Nonsense. It is perfectly acceptable, perfectly legal and widely practiced for a landlord to request cash in which case a signed receipt should be given to protect both parties.
Nonsense. It is perfectly acceptable, perfectly legal and widely practiced for a landlord to request cash in which case a signed receipt should be given to protect both parties.
Yes, it IS perfectly acceptable, perfectly legal and widely practiced for a LL to request cash BUT the question is whether he's reporting it and and 99.9% of the tine humans being what they are---greedy and dishonest----the LL is not reporting at least some of the income, especially if he's renting rooms in his residence.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
