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  1. #1
    Expert Forum User The Ultimate London Mom!

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    Feb 2007
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    Default renting a room and tax deductions

    Hi HappyMommy,
    We rented out a room in our home to an international student for January/february in 2009. I was only going to claim the relevant deductions for those two months that she lived with us. I have since been told that I can claim my property tax, insurance, interest etc for the entire year regardless if we had a current student? Which is correct?

    Thanks for any information.
    Cole is 8 years old! January, 2005
    Nate is 5 years old! January, 2008
    Judah is 2 years old! October, 2010
    Avery Grace born & passed Feb 4, 2007.

    "Why did I not know that birth is the pinnacle where women discover the courage to become mothers?"
    Anita Diamant (The Red Tent)

  2. #2
    Expert Forum User
    strongmommy's Avatar
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    Sep 2006
    Old North
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    Hi Carol

    It's aggressive to claim an entire year of interest/property tax etc if you weren't actively trying to rent the room out (advertising etc). The 'rules' are that you can claim expenses against income earned/attempts to earn income from a business or rental property.

    If you were trying to rent it out then claim the expenses just be prepared if asked to support your position that you intended to generate ongoing income from the room on a go forward basis.

    If you didn't attempt to rent it out then I'd stick with the % of costs associated with the room on 2/12ths basis.

    Let me know if you have any other questions.

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