Hi guys, me and my wife co-owned a condo unit with 50/50 proportion. She paid mortgage by herself and I paid property tax, insurances and other expenses by myself. When I file tax returns for both of us, do I split all of those expenses on half of them, or I fill out any expenses on my file and she fill out only mortagae on her file? I know the rental income will be split half to each other, but I am not sure if the expenses use the same method. Thanks guys for answering.
Me and my wife were paying rental expenses separately, do we split those expenses on proportion?
in Credits and deductions
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Hi guys, me and my wife co-owned a condo unit with 50/50 proportion. She paid mortgage by herself and I paid property tax, insurances and other expenses by myself. When I file tax returns for both of us, do I split all of those expenses on half of them, or I fill out any expenses on my file and she fill out only mortagae on her file? I know the rental income will be split half to each other, but I am not sure if the expenses use the same method. Thanks guys for answering.