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How can i claim rental income as a co owner

im a co owner of a rental income ..im also residing at the residence
1 Reply

How can i claim rental income as a co owner

Click on Find (magnifying glass) in the top right-hand corner. Type "rent" in the box, then select "Rental properties" from the list, and click “Go”. There you can enter your rental income and expenses. You will be given the option the enter the details of other owners, as well as put in a percentage of your share.

 

If you live at the rental property, then you can only enter expenses that pertain to the rental unit, not any personal portion of expenses. Ex: If you rent out half of the building and you pay $1000 in heating bills, then you can only claim $500 as an expense.

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