Figure net rental income by subtracting the actual cost of doing business from the actual gross rental income.
Rental expenses include:
paid by the landlord.
NOTE: Allow as shelter costs for the FS unit:
When the FS unit rents out a portion of its dwelling and expenses cannot be separately identified:
Example: Total housing and utility costs are $400. There are 8 rooms in the dwelling and 3 are rented out. Figure rental expenses:
$400 ÷ 8 rooms = $50 X 3 rooms = $150 expenses.
NOTE: Allow the Air Conditioning/Heating Standard as a shelter expense when figuring the FS unit's shelter costs deduction.
Illinois Department of Human ServicesJB Pritzker, Governor · Grace B. Hou, Secretary
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