This guide explains how to report rental income and related expenses in the Individual Tax Return (ITR) within LodgeiT.
Add Rental Property to the Tax Return
Make sure the Rentals section is activated via the four squares icon in the form view.
Add and Fill the Rental Worksheet
You may manually fill the income and expenses, or use an import feature.
Notes:
Property with Multiple Owners and Rental Property Split
- If the rental property has multiple owners, add both as clients in LodgeiT
- The rental worksheet will split income and expenses according to ownership percentages. Learn more
- Changes to one owner’s rental worksheet will update the other’s to reflect the shared ownership.
Use the Multi-property rental schedule if client owns multiple rental properties.
For foreign rental income, activate the Foreign section and use dedicated worksheets. Learn more
Related guide:
Importing Rental Income and Expenses
Orther related guides:
Rental Schedule from QuickBooks
Depreciation Multiple Rental Property
Partial "Expense" share amount for Rental Property
Rental Property Low Value Pool (Deduction>D6)
Rental Property - Capital Allowance