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Form 12 Question

Kilb28 · 2011-10-30 18:52:23

Hi My parents have rental income for one property. The property is in joint names. when filling out a FORM 12 do i need to spilt the income and expsenses 50 / 50 under "Self" and "Spouse" Thanks Linda

30-10-2011 6:52pm

#1

Kilb28

Closed Accounts Posts: 4 ✭

Join Date: October 2011

Posts: 3

Hi

My parents have rental income for one property. The property is in joint names. when filling out a FORM 12 do i need to spilt the income and expsenses 50 / 50 under "Self" and "Spouse"

Thanks

Linda

0

Comments

#2 30-10-2011 6:57pm

mari2222

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Join Date: July 2008

Posts: 538

probably best to do so

0
#3 30-10-2011 7:05pm

Kilb28

Closed Accounts Posts: 4 ✭

Join Date: October 2011

Posts: 3

Thanks for the quick response. I have it done that way :-) Was hoping i didn't have to fill it out again! Tks

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#4 01-11-2011 11:49am

kennyb3

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Posts: 6465

Not just best to, its a requirement if the property is in both names. It may well be beneficial too if their other income isn't much.

0