mortgage is under both names, is it possible rental property income, can it be under my name only

Question

103 viewsApril 24, 2024Real Estate Tax

0

Juanita (anonymous) Posted April 19, 2024

Hi There,
Me and my spouse bought a rental property together and the mortgage is under both names, can I file rental income under my name only as my spouse is currently working overseas, we both are Canadian citizens, thanks

1 Answer

score 0 · Answer 1 · 2024-04-24T16:43:37+00:00

Hi Juanita,

If you and your spouse are both on the title to the property and both of you contributed equal amounts to purchase the property, then both spouses must report 1/2 of the income and expenses of the property.

mortgage is under both names, is it possible rental property income, can it be under my name only

1 Answer

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