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Investors and rental owners
Because this is a partnership with 4 partners each owning 25% of the rental and each with their own loans, the interest on the T776 Interest section of Rental Expenses is for the partnership as a whole, not for the individual partner, as indicated at the top where it says "do not include any personal portion of these expenses". So where can I enter the personal portion of interest? Should I multiply my personal interest by 4 and enter that, knowing it will attribute 25% to me?
ā€ˇFebruary 14, 2024
8:27 AM