We purchased a condo in 2018 for our son for university. He uses his RESP for rent; his roommate pays $850/month (no utilities), thus, likely below market. Do we claim?

[darrentinahome19]

Do we claim all income/expenses in this case?

[TurboTaxSusan]

You don’t need to claim rental income if you are renting below the market value and have no chance of making a profit. But at the same time, you also can’t claim any expenses.