topic We did not sell our house in ON when moved but renting rooms out. does this qualify for business? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/we-did-not-sell-our-house-in-on-when-moved-but-renting-rooms-out-does-this-qualify-for-business/01/940840#M6127 Thu, 31 Oct 2019 08:45:06 GMT wjchagen 2019-10-31T08:45:06Z We did not sell our house in ON when moved but renting rooms out. does this qualify for business? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/we-did-not-sell-our-house-in-on-when-moved-but-renting-rooms-out-does-this-qualify-for-business/01/940840#M6127 Thu, 31 Oct 2019 08:45:06 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/we-did-not-sell-our-house-in-on-when-moved-but-renting-rooms-out-does-this-qualify-for-business/01/940840#M6127 wjchagen 2019-10-31T08:45:06Z If you are renting out rooms and provide additional servi... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/if-you-are-renting-out-rooms-and-provide-additional-servi/01/940841#M6128 <P>If you are renting out rooms<SPAN>&nbsp;and provide additional services to your tenants, such as cleaning, security, and meals, you <I>may</I> be carrying on a business. Report this income on a T2125 - Statement of Business Activities.</SPAN></P><P>If you&nbsp;rent the rooms and provide basic services only, such as heat, light, parking, and laundry facilities, you are considered to have Rental Income and would report this on the T776 - Statement of Rental Income.</P><P>Here's some more information from CRA:&nbsp;<A rel="nofollow" href="https://bit.ly/2VsM43d" target="_blank">https://bit.ly/2VsM43d</A></P> Thu, 31 Oct 2019 08:45:08 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/if-you-are-renting-out-rooms-and-provide-additional-servi/01/940841#M6128 TurboTaxKim 2019-10-31T08:45:08Z
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topic We did not sell our house in ON when moved but renting rooms out. does this qualify for business? in Investors and rental owners
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We did not sell our house in ON when moved but renting rooms out. does this qualify for business?
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If you are renting out rooms and provide additional servi...
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https://turbotax.community.intuit.ca/community/investments-rentals/discussion/if-you-are-renting-out-rooms-and-provide-additional-servi/01/940841#M6128
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<P>If you are renting out rooms<SPAN>&nbsp;and provide additional services to your tenants, such as cleaning, security, and meals, you <I>may</I> be carrying on a business. Report this income on a T2125 - Statement of Business Activities.</SPAN></P><P>If you&nbsp;rent the rooms and provide basic services only, such as heat, light, parking, and laundry facilities, you are considered to have Rental Income and would report this on the T776 - Statement of Rental Income.</P><P>Here's some more information from CRA:&nbsp;<A rel="nofollow" href="https://bit.ly/2VsM43d" target="_blank">https://bit.ly/2VsM43d</A></P>
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