Becoming a landlord for a couple months (NY)?
Hello,
I have someone who is going to be staying with me and they were receiving DSS rent for the place they were previously staying, however they had a falling out and they are now staying with me on a short term basis. The renter went to DSS and told them they don't live there any more and they live with me so the other landlord wouldn't receive rent while she did not stay there. SO now I am slated to receive the rent for a few months until she is relocated. How is this going to affect my income taxes? Do I have to pay tax on the rent? Even though it will only be for a month or two what deductions will I have? Is it even worth it getting into this? Any advice is appreciated.