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Where and how do I enter rent I collected from family staying in our home?
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Where and how do I enter rent I collected from family staying in our home?
To be rental income, you have to run rental operation with an expectation to earn profit, if you are charging money from a friend and family member to share cost, this is not rental income and not required to be reported.
More from the CRA here: http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/fmv-eng.html
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Where and how do I enter rent I collected from family staying in our home?
To be rental income, you have to run rental operation with an expectation to earn profit, if you are charging money from a friend and family member to share cost, this is not rental income and not required to be reported.
More from the CRA here: http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/fmv-eng.html