Hi, I am in a similar situation.
Does it mean in his tax file, the brother will claim the following:
- 100% ownership
- total income from the rental property
- total expenses the brother paid
- report the sister's half of the income in "Other expenses"
And in the sister's tax file, she will claim the following:
- 50% ownership
- total income from the rental property
Please advise if the above is correct. Thanks.
