On your Husband’s Return: Ensure the T776 (Rental Profile) has the box checked for "I have co-owners or partners" and that the spouse’s information and 50% share are entered.
You are each respo...
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On your Husband’s Return: Ensure the T776 (Rental Profile) has the box checked for "I have co-owners or partners" and that the spouse’s information and 50% share are entered.
You are each responsible for your claim. You must enter the percentage of ownership according to you and your partner's portions. So if you both own the property 50/50, it should be split 50/50.
If you are a co-owner or member of a partnership:
Enter your percentage of ownership in the Identification area, and complete the Details of other co-owners and partners portion, including the co-owners/partners' percentage of ownership.
Enter the address and gross rental income for the entire property in the Income section. Do not split the gross income according to your ownership share.
Enter the amount of deductible expenses you have as a co-owner or partner, whichever applies, that you did not deduct elsewhere on the form. Do not enter expenses if you were reimbursed for them.
For more information regarding rental income, please visit this page:
How do I enter my rental income and expenses in TurboTax?
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