Question about Income Tax
1/6/2011 at 10:24 AM
I hope I put this in the right category.
My question about Income Tax is ...
We own our house. The upstairs is a rental suite. Nothing is shared, it is completely separated. The tenant pays rent, and lights. I am curious if because we pay for all the water and heat, can any of it be claimed on Income Tax?
This is our first year ever having a tenant, so that is why I am wondering. I know I give the tenant rent receipts, and we in turn claim the rent as income.
Thank you for any help!!