Hello,
I have a question on my rental income. I have an investment property under me and my wife's name. I also took a mortgage to purchase this property. The mortgage is under me and my wife's name also.
However, the rental income is taken by my parents and the expenses associated with this property e.g. mortgage interest, taxes and any maintenance cost of this property is also paid using the rental income. Can the income and expense be reported in my parent's Tax Return or should I still report it under my Tax Return.
TIA
