Do you claim section 8 rent on your taxes as income?

When you allow your home/apartment to be rented out under Section 8 guidelines, you are allowing lower income tenants to move in to pay lower rent, but what you receive can be very beneficial. Section 8 is recognized by the government, and thus you will receive a tenant a lot more quickly, and they will give you a voucher. The voucher acts as a safety net to those renting out to poorer people, in case they are unable to pay while living in your place. The money you receive from the tenants, although could be lower than you may think, it is not taxable, since you are graciously providing your home for the poor and needy. There are some disadvantages to renting out under Section 8 housing: the pay may not be as high as renting out to regular people, your property will see some wear and tear, there are delayed payments, and there are no security deposits unless you approach the tenant for it.

Related Tax Questions