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Investors & landlords
@janijayram wrote:I have little different situation. My rental property is under Trust my partner and I. Last few year I am filing all income and expenses under his filing. Can I switch to my filing from next year? We are not married but live under the same roof.
You are not allowed to pick-and-choose who claims the income. It must be reported based on your ownership percentage of the rental activity.
And if it is under a Trust, you need to know what kind of Trust it is, and you may need legal assistance with that.
March 6, 2021
12:13 PM