Married Couples Jointly owned property – expenses splitMake Text Bigger
I am aware that income from property owned jointly by married couples needs to be split 50/50 for tax purposes (unless form 17 has been filed), but do expenses from jointly owned property also have to be split 50/50?
My situation is that I manage our 2 jointly owned rental properties, including paying the mortgage and covering all expenses.
Can I claim 100% of the expenses against my 50% share of the income?
Thanks to anyone who can help with this.
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