Rental Income

The taxpayer who owns the rental property has to report the rental income or loss. If you are a co- owner of the rental property, your share of the rental income or loss will depend on you share of ownership. Report the rental income the same way for each year you own that rental property. In other words, you cannot change the percentage of the rental income or loss you report each year unless the percentage of your ownership in the property changes. - The above information from cra - T4037(E) Rev.11

Author: Ann Guo