We own land with our mother. she gets all the rental but we pay most of the taxes. How do i do this on income tax
We have ownership of a quarter of land with my mother. She is only on pension so we give her all the rental income but we pay most of the taxes. Is there a way we can claim the taxes without income from the land
01540
1 Best answer
TurboTaxJeffrey
New Member
Oct 30, 2019 2:55:58 AM
You are not able to allocate all the revenue to one owner and all the expenses to another. The revenues and expenses are recorded and the net result is divided between the owners according to the equity held by each.
1 Replies
TurboTaxJeffrey
New Member
Oct 30, 2019 2:55:58 AM
You are not able to allocate all the revenue to one owner and all the expenses to another. The revenues and expenses are recorded and the net result is divided between the owners according to the equity held by each.