Can I include rent from elderly parent as other income on mortgage?

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kellyd0613 Asked February 2014

Can I include rent from elderly parent as other income on mortgage?

My mother lives with me. I am reapplying for a mortgage and due to my ex not providing court ordered child support, I was wondering if I could include the "rent" my mother pay me as other income in the application? If I do that, will I need to include that income on my taxes?

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Yes you can include it, and the proof of it would be the schedule E rental income on your tax return. Include the child support as well, since it is court ordered, with proof being the court document awarding the payments.

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Can I include rent from elderly parent as other income on mortgage?

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