Rental Income T776
Hello, so my client has bought a house, that now has become a Rental Property, then moved to a small town, which she rents a place. She is not providing any service, she is just renting the place and thats it. So, Its a Rental Income not a Business Income right? Even thought she is renting the whole house
This is my first time filling T776 Form. Do I have to worry about anything? CCAs and what not?
She has made $21000 on renting the place and has ofcourse Expenses (Property Tax, Insurance and what not). I have read the T4036 and I think I understood it quite well...
The property is Sole Owner and only her name on the Mortgage. Do I have to fill out any other form other than the T776?
I really want to do her tax so I can learn too but Im afraid to I may screw it up.