Irish Independent: Home Economics: ‘I’m a pensioner and would like to rent out a room in my home. Do I have to report the rent I earn?’
0Eileen Devereux, Commercial Director with Taxback.com says: “As you may be aware, Section 23 relief means that if you incurred a qualifying expenditure, the full cost of expenditure could be set of against your rental income. So, in your case the excess (Case V loss) could be carried forward to cover future rental income profits (Case V income).