Rental income - Personal use or others
To enter information about the personal use of your rental
property, follow the steps below:
1- On the "Left side menu on the Interview tab", go to
the item "Rental income" and choose
"Identification".
2- On the page that appears, entitled "T776 - Rental property
identification", enter the percentage of your personal use on
the line "Percentage (%) of personal use of your rental
property".
The program will apply the specified percentage globally to
reduce all rental expenses accordingly and thus establish the
deductible amount.
However, if the percentage for one or several expenses is
different, on the page for "Rental property income and
expenses", go to the line "If less than 100% of an expense
above applies to the business, enter the applicable
percentage", choose the expense from the drop-down menu and
enter the appropriate percentage. If you need additional fields,
click on the plus "+" icon on the right and a new field will
be created.
Keep in mind that your percentage interest in the partnership or
your share (%) of ownership if other than 100% should be the
same.
For more information regarding rental income, please consult the
following CRA links:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/rental-income-line-12599-gross-line-12600-net.html
ID: 20200831111931NA.xml
Webpage: KPA320-20200831111931NA.htm
