I rent out an apartment and have 50:50 split with ...

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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

 
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

Are you renting out a property that you own or are you sharing a rental with someone else?
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

Renting out. We split rental income evenly but I pay all the costs
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

Unfortunately, because you are a renter, you are unable to claim the extra expenses and assets.

If you are a a resident on Ontario, you can claim the rent on the ON-BEN.

If you are a resident of Manitoba, you can claim the rent amount for the "Education property tax credit" (MB479).
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

I am a landlord
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

Sorry, I misunderstood your original response.

There are different ways to handle this using TurboTax.

Is the co-owner a spouse that you're preparing a joint tax return with?
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

Co owner is my sister
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

She files her own taxes
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

My sister just reported the total rental income for both of us and that she has 50% ownership. She didnt report any expense or assets. Eoes she need to fix anything
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New Member

I rent out an apartment and have 50:50 split with another on the rent. However, I pay all the costs and bought all the assets. How do I report this in Turbo Tax?

She doesn't need to fix anything. The method she used only has her claiming 50% of the income.
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