topic Where and how do I enter rent I collected from family staying in our home? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/where-and-how-do-i-enter-rent-i-collected-from-family-staying-in-our-home/01/936310#M5619 Thu, 31 Oct 2019 06:07:05 GMT newacct19e 2019-10-31T06:07:05Z Where and how do I enter rent I collected from family staying in our home? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/where-and-how-do-i-enter-rent-i-collected-from-family-staying-in-our-home/01/936310#M5619 Thu, 31 Oct 2019 06:07:05 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/where-and-how-do-i-enter-rent-i-collected-from-family-staying-in-our-home/01/936310#M5619 newacct19e 2019-10-31T06:07:05Z To be rental income, you have to run rental operation wit... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/to-be-rental-income-you-have-to-run-rental-operation-wit/01/936311#M5620 <P>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.&nbsp;</P><P>More from the CRA here:&nbsp;&nbsp;<A rel="nofollow" href="http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/fmv-eng.html" target="_blank">http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/fmv-eng.html</A><BR /></P> Thu, 31 Oct 2019 06:07:06 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/to-be-rental-income-you-have-to-run-rental-operation-wit/01/936311#M5620 TurboTaxLise 2019-10-31T06:07:06Z
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topic Where and how do I enter rent I collected from family staying in our home? in Investors and rental owners
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Where and how do I enter rent I collected from family staying in our home?
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To be rental income, you have to run rental operation wit...
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<P>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.&nbsp;</P><P>More from the CRA here:&nbsp;&nbsp;<A rel="nofollow" href="http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/fmv-eng.html" target="_blank">http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/fmv-eng.html</A><BR /></P>
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