[Hondaracer]

Unless it’s to family it’s a grey area at best, if you ever get audited and they see constant deposits coming in then it’s pretty clear the suite is generating income

We were torn as to claiming our suite or not but we will end up claiming the income anyways because for the next two years we should have enough deductions to negate the taxes on the rental income. You can also use the rental income, claimed or not (but it’s pretty sketchy to use non claimed rental income this way) as leverage into a HELOC, mortgage etc.