Tax obligations for homeowners receiving financial contributions from live-in partner

[sitizen]

I am the sole owner of a one-bedroom condo. My boyfriend moved in last year and has been making financial contributions to me every month since he moved in. Do these financial contributions constitute taxable income to me?

It strikes me as odd to consider his financial contributions as rental income to me both because I am not renting my place to him (I live here as much as he does) and because he is not a roommate, but someone with whom I share a bed.

Bottom Line: Must a homeowner pay income taxes on financial contributions made to him by his live-in girlfriend or live-in boyfriend?

Any thoughts on the matter would be greatly appreciated!

 

[Padraigb]

Re: Tax obligations for homeowners receiving financial contributions from live-in par

I see no tax implications.

There might be non-tax implications if you break up if his contribution is large enough to be reckoned as a contribution to the purchase of the property.

 

[sitizen]

Re: Tax obligations for homeowners receiving financial contributions from live-in par

Thank you, Jaybird, for pointing this out. I am indeed in the U.S. and will seek to post my question in an appropriate U.S.-based forum. Thanks again!