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April 25, 2023
Question

Can we split rental income 50/50?

  • April 25, 2023
  • 1 reply
  • 0 views

My wife and I own a rental property, however the title of the property is only under her name.  Are we able to split income from the property as co-owners on our tax return even though she is the only one on title?

Thanks.

    1 reply

    TurboTaxSusan
    April 29, 2023

    If you help your wife run the rental business, then you can claim a portion of the income, even if you are not the property owner. Ex: you help collect rents, or do the accounting, or you do maintenance on the properties etc...