I am living in a rental house and paying rent to the owner.
Due to inflation, I wish to give one of the room on sublet to a person.
do I have to pay tax on sublet income I will get from the renter of one room. I am paying total rent to the owner.
Thanks for response.
Slight misunderstanding in my question, so again re-framing the question as follow:
We both, me and my friend have signed lease agreement document. I am primary applicant and he is secondary applicant. We are sharing the house expenses. He pays me his share of house rent and utilities. I pay the full rental amount to the real estate agent.
I need clarification that the amount that he gives me as his share of expenses is not taxable income to me.
Thanks
22 Apr 2024 · 6 min read time
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