A friend pays me cash to manage their rental property. They pay me a percentage of total rents every month, about 10%.
I don't have a business or corporation, but I basically take care of everything on the property and in turn they pay me for it.
How do i claim this income on my taxes?
Do i claim it as "other income" or do i declare my self as "self employed"
I don't have any other income.
Only you can make that decision. For guidance, please see the Canada Revenue Agency (CRA) about Line 13000 – Other Income and our TurboTax article: Guidelines for Reporting Self-Employment Income.
Thank you for choosing TurboTax.
Thanks, I did read all of those prior to posting, but am still confused. I dont plan on claiming any expenses against this income so not sure i need to declare self employed, but it is a service offered so am not sure.
If you are not claiming expenses, it would be simpler to claim under Other Income. You may wish to contact the Canada Revenue Agency (CRA) for advice at 1-800-959-8281.
Thank you for choosing TurboTax.
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