You are each responsible for your claim. You must enter the percentage of ownership according to you and your partner's portion. So if you both own the property 50/50, it should be split 50/50. You cannot change the percentages just to lower one spouse's tax liability.
If you are a co-owner or member of a partnership:
- Enter your percentage of ownership in the Identification area, and complete the Details of other co-owners and partners portion, including the co-owners/partners percentage of ownership.
- Enter the address and gross rental income for the entire property in the Income section. Do not split the gross income according to your ownership share.
- Enter the amount of deductible expenses you have as a co-owner or partner, whichever applies, that you did not deduct elsewhere on the form. Do not enter expenses if you were reimbursed for them.
- Enter the total amount of undepreciated capital cost (UCC), additions and dispositions on page 2. See Calculation of Capital Cost Allowance below.
- If you rent out part of the building that you live in, you can only claim the portion of your expenses that relate to the rented part of the building.
For more information regarding rental income, please visit this page:
How do I enter my rental income and expenses in TurboTax?
For additional information, please contact our team here.
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