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Investors & landlords
It depends. You could decide to choose who will claim the rental property on their return or a joint return. 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.
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
- MFS and Community Property States
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March 28, 2021
6:37 AM
2,468 Views