Do I claim rent in Ontario when the reported income clearly could never have covered it?
March 26, 2011 2:41 PM Subscribe
I am filing tax returns for a number of prior years. One of those years was spent renting an apartment, but having almost no income whatsoever to claim. Rent was paid through a variety of means (read: help from parents). It was one of those years. Do I claim the rent paid?
posted by tapesonthefloor to Law & Government (10 answers total) 1 user marked this as a favorite
This is in Ontario. Is the imbalance between income reported and rent claimed going to be a red flag of some sort? Does the fact that I'm on some landlord's books as having paid a certain amount mean that I should claim it, whether I'm able to show the income or not?
Would claiming rent with such little income on the year not be worthwhile anyway? I don't have the forms in front of me, but it seems that the provincial credits will add up regardless of the reported income, so we're potentially talking about a not insignificant sum. Given the option, though, I'd probably choose to take the simpler path and not mention the rent paid at all as long a this isn't omissive to a fault.