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When Do You File a Schedule E vs. a Schedule C

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  • 03-17-2016, 07:56 AM
    Who Knows?
    When Do You File a Schedule E vs. a Schedule C
    I live in NY.
    I have a Chinese high school student living with us 10 months of the year and receive a monthly stipend.
    I log all miles driving her, and a % of households costs for her expenses - the rest is profit.
    I have a contract with her agency - but no lease.
    Do I file a Schedule C or E? I need to be able to deduct what she costs me, so I was thinking C.
    Thank you in advance for your help!
  • 03-17-2016, 08:15 AM
    flyingron
    Re: Student Room and Board - Schedule C or E
    Schedule E. You can still deduct the expenses. You may wish to consult a tax advisor. In addition to the rental income you have depreciation issues to deal with.
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