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Investors & landlords
If the rental property is in both names and you file separately you can split the rental income and all expenses in half if a joint account is used to receive rents and pay expenses. You could also decide to choose who will claim the rental property on their return.
If an account owned by only one of you is used for the rental activity and/or the rental is only in one of your names, that person should claim the rental activity.
If you live in a community property state, you will be required to provide additional information regarding your spouse’s income.
- Community property states: AZ, CA, ID, LA, NV, NM, TX, WA, WI
June 4, 2019
2:20 PM