gary-c-yuen
New Member

My father and I co-own a rental property together. It is a condominium that we rent out. How should we divvy up the rental income and tax/ interest deductions?

My dad and I co-own a rental condominium. Currently my father collects the rent and keeps it for himself as part of our arrangement. He also pays for the renters insurance and any maintenance costs. 

On my end, I pay for the mortgage/ mortgage interest and property tax. 

Can my dad claim the rental income property tax income on his tax form while I claim the property tax and interest deductions?