rental property income question | Income tax filing | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
rental property income question
October 19, 2021
7:20 pm
simonsuen
Newbie
Members
Forum Posts: 1
Member Since:
October 19, 2021
sp_UserOfflineSmall Offline
Go to Top
1sp_Permalink sp_Print

I and my mom are co-owners of a house. I receive rental income from the house. Also, we both live in this house.

If my mom pays part of the property tax, then she can claim OSHPTG (for senior house home owner) and OEPTC.

Questions:

1. Is it ok for her to pay part of the property tax if I claim all the rental income?

2. What type of house related expenses can I claim? (e.g. repair and renovation)

Thanks.

October 19, 2021
8:42 pm
Norman1
Member
Members
Forum Posts: 7142
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline
Go to Top
2sp_EditHistory sp_Permalink sp_Print

Bill found earlier, in the T4036 Rental Income guide, that it is not okay for just one of the owners to claim all the rental income:

Who reports the rental income or loss?
The person who owns the rental property has to report the income or loss. If you are a co-owner of the rental property, your share of the rental income or loss will depend on your share of ownership.

The rental income or loss percentage you report should be the same for each year unless the percentage of your ownership in the property changes.
…

Also, those OSHPTG and OEPTC are for principal residences.

No permission to create posts
sp_Feed All RSS
Go to top

Please write your comments in the forum.