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Informal renter in my home. Do I report it as income?

r/

Location: SC if I have a friend rent a room in the house I own, do I need to report the money received as income?

Comments

  1. Big-Low-2811 Avatar
    Big-Low-2811

    Legally? Yes. You should have a lease and report the income.

    However, depending on the specifics, you can probably fly under the radar if everything is cash.