Rental

If a property belongs to an individual, but the loan is under a company’s name. Would the rental income be reported under the individual’s income tax? Yes, the rental income should be reported as the individual’s income. However, the loan interest incurred cannot be used to deduct against the rental…

If a property belongs to A & B as stated in the Sales and Purchase Agreement, but only A is stated in the rental agreement as the landlord, would the rental income only be declared as A’s income? No, if the property is owned by both A & B, the…