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The rental income is still taxable, however if you don't own the property then there would be no asset listed for depreciation on the rental.
If you incurred some costs to earn the rental income, those costs could be considered ordinary and necessary business costs and may be deductible.
Your situation is highly unusual.
I suggest perhaps you post another question with more detail. Leave out names and locations and then we can give a more detailed answer.
The rental income is still taxable, however if you don't own the property then there would be no asset listed for depreciation on the rental.
If you incurred some costs to earn the rental income, those costs could be considered ordinary and necessary business costs and may be deductible.
Your situation is highly unusual.
I suggest perhaps you post another question with more detail. Leave out names and locations and then we can give a more detailed answer.
I am not the original poster but I have the same question. My husband has owned property in UK for the last year. We live separately and have done for several years. He lives abroad. He does not need the rent, which goes to my bank account as agreed with him. I am intending to put in a tax return but am not sure about the legality of the situation. Should he put in a tax return for this income as he owns the property, or can I?
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