Aar0n
04-08-2010, 07:14 PM
Lets say you have an agreement with your mortgage lender that you will occupy the house.. But instead, you rent it out.
When that person (home owner) files their taxes, and claims the rent money as additional income... How does the lender not find out?
I know quiete a bit of people doing this, I question wether they will ever get caught?
Also, I know some people who rent out their rooms in their house.. And do not claim this as additional income when filing for tax return.
Another question... In the past when I was renting, my tax broker did not include my rent reciepts so that I could claim because I made too much.. What is the reason behind this.. And also, isn't this giving the landlord a tax break?
Another question... Let's say you are a home owner. You rent out the house to a couple. A women who is 'seperated' from her husband who has two children and is collecting social assistance from the government and does not work and also collects child support from seperated husband... Her partner now, works full time for the city, making 60,000 a year. Is there anything wrong with this picture? Can a women claim welfare in the case? Also, can the women use the rent reciepts to claim as a tax write off when filing taxes when living with her new boyfriend in the rented house?
Thanks for the reply in advance my family and friends.
When that person (home owner) files their taxes, and claims the rent money as additional income... How does the lender not find out?
I know quiete a bit of people doing this, I question wether they will ever get caught?
Also, I know some people who rent out their rooms in their house.. And do not claim this as additional income when filing for tax return.
Another question... In the past when I was renting, my tax broker did not include my rent reciepts so that I could claim because I made too much.. What is the reason behind this.. And also, isn't this giving the landlord a tax break?
Another question... Let's say you are a home owner. You rent out the house to a couple. A women who is 'seperated' from her husband who has two children and is collecting social assistance from the government and does not work and also collects child support from seperated husband... Her partner now, works full time for the city, making 60,000 a year. Is there anything wrong with this picture? Can a women claim welfare in the case? Also, can the women use the rent reciepts to claim as a tax write off when filing taxes when living with her new boyfriend in the rented house?
Thanks for the reply in advance my family and friends.