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Investors and rental owners
Hi!
Thank you so much for your response.
So for over 10 years I have been claiming 100% of the rental income (which is basically negligible) for a property that my husband and I are co-owners on under my husbands name. This is honestly the first year I ever thought to ask if that was ok or the right way to do it (after a suggestion from a turbo tax specialist). She indicated that most people share the income 50/50 if they are co-owners. I then asked my Father (a retired accountant). He said to just keep doing it the I always have been doing it. That it’s not technically wrong. But changing it now will only raise red flags?
April 26, 2021
9:41 PM