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Updated almost 7 years ago,
Co-Own rental property with Brother - Tax Advice
I co-own a rental property with my Brother (purchased last year). He paid 100% of the expenses for the property this year, and also received 100% of the rental income. (This includes mortgage interest).
Do I have to report anything on my end when I file?
Also, for 2018, we will be splitting all expenses 50/50. So if he claims 100% in 2017, will we be able to switch to 50/50 for the 2018 return?
Thanks for the help!