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Ask Asad Rahman Your Own Question
Asad Rahman
Asad Rahman, Lawyer
Category: Employment Law
Satisfied Customers: 1735
Experience:  Practicing Attorney with 10 years experience
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I inherited a house in North Carolina, got off from my job,

Customer Question

I inherited a house in North Carolina, got laid off from my job, and was eligible for Unemployment Benefits. I began filing for weekly benefits and over a month or two, fixed the house up and rented the house out to tenants. Am I required to consider their rent as "income" when reporting to the unemployment office? If I am, do I wait until their rent has paid me back all the expenses of fixing up the house for rental?
Submitted: 6 months ago.
Category: Employment Law
Customer: replied 6 months ago.
I live in Pennsylvania, and the unemployment compensation is from Pennsylvania.
Customer: replied 6 months ago.
My tax accountant says no -- which means on my taxes, I may not be profiting. But I want to make sure, because in America, there is prison time and large fines associated with unemployment fraud.
Expert:  Asad Rahman replied 6 months ago.
Until you have been reimbursed for your out of pocket expenses it is not income but thereafter it could be and factored into your unemployment benefits.