We separated in November last year after an 8-year marriage. Over last year, we had a rental property (jointly owned) which earned rental income.
The separation agreement specifies that he gets the rental property while I get the matrimonial home. The ownership change on properties had been done and title on mortgage were also modified. All the procedures are done before December 31, 2010.
The lease agreement with the tenant was signed by me only, for the sake of convenience earlier in 2010. The rental cheques were made payable to me only, however, the rental income had been deposited into joint bank account until the separation. Now that my ex is the sole owner of the rental property, the tenant has been advised of the change.
How do I need report the rental income in my tax filing? How do I deal with this?
Thanks.
The separation agreement specifies that he gets the rental property while I get the matrimonial home. The ownership change on properties had been done and title on mortgage were also modified. All the procedures are done before December 31, 2010.
The lease agreement with the tenant was signed by me only, for the sake of convenience earlier in 2010. The rental cheques were made payable to me only, however, the rental income had been deposited into joint bank account until the separation. Now that my ex is the sole owner of the rental property, the tenant has been advised of the change.
How do I need report the rental income in my tax filing? How do I deal with this?
Thanks.
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