Example:
Gross Rent $42,000 Less: Property Tax $2,500 Interest $3,850 Maintenance $3,000 Net Rent $32,650 Your Share 50% You only need to declare your share of net rent of $16,325 ($32,650 x 50%) in your tax return
Gross Rent $42,000 Less: Property Tax $2,500 Interest $3,850 Maintenance $3,000 Net Rent $32,650 Your Share 50%
You only need to declare your share of net rent of $16,325 ($32,650 x 50%) in your tax return