Information commonly reviewed
- Rental income received during the year
- Property taxes, insurance and eligible operating expenses
- Repairs, maintenance and larger property improvements
- Mortgage-interest and financing information
- Ownership percentages and personal use, where relevant
- Purchase, sale or change-in-use details
Separate records reduce uncertainty
Organized income and expense records make it easier to identify what belongs on the return and what requires additional clarification.
Common questions
Do I report rental income on my personal return?
Individual landlords generally report rental income and eligible expenses with their T1 personal income tax return.
What if I sold the rental property?
Tell Sangita about the sale before the return is prepared. Purchase, improvement and disposition records may be important to the capital-gains calculation.
Can Sangita help with more than one property?
Yes. Identify every property and the relevant ownership information when requesting a consultation.