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As co-owners, you declare a portion of the rent as decided in a written or verbal agreement between the owners. Once co-ownership is established, you need to determine if a partnership exists between you and the other owner.
Please visit our Turbotax article on Claiming Rental Income and How do I enter my rental income and expenses in TurboTax? learn more about how to declare rental income with your co-owner.
Ayad1
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Ayad1
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