My fiancee and I have opted not to get married anytime soon and are cohabitating for now while we raise our child together. I own the house we live in and she helps with expenses by paying me money every month.
I know that money exchanged between married couples is not taxed but am I supposed to claim that money as rental income since we re not married?
Added (1). EDIT: I should mention, part of the expenses she's paying into is the mortgage. So some of the money she kicks in will knock down principal, which would be equity she's entitled to if we're married. So what she's paying could be construed as rent, even though she'd be kicking in the same amount if we were married.
Read more: Does money exchanged between cohabitating partners need to be claimed as taxable income?
