Where to report rental income?

[Doris711]

Client out of the country studying for master degree.  Renting condo to friend for the mortgage amount, temporarily.  Is the rental income reportable?  If so, where do I report it?  Can expenses be claimed? If so, where?  

Thank you for your assistance. 

[TaxGuyBill]

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@Doris711 wrote:

 Renting condo to friend for the mortgage amount, temporarily. 

Is the rental income reportable? 

If so, where do I report it?  Can expenses be claimed? If so, where?  

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Is that rental amount at Fair Market Value?

Yes.

Depends on #1.

[qbteachmt]

"Renting condo to friend" <== meaningless for tax reporting

"for the mortgage amount" <== meaningless; that's how they determined how much to charge. The Charge is what matters, not how they got there.

"temporarily" <== meaningless, except they might still be subject to landlord provisions, need to worry about insurance, etc.

Make sure to understand what matters and what doesn't.

[Doris711]

Yes, rent being paid is FMV. 

[qbteachmt]

You can google:

Where to report rental income on 1040