Real Estate Income and Expenses

If you earned rental income or paid expenses relating to that income in 2016, you’ll need to complete form T776: Statement of Real Estate Rentals. As you might expect, rental income is earned from the rental of property that you own (either alone or with others), such as a house, apartment, rooms, or office space within a building.

When completing your return, you’ll need to report the gross rental income you earned in the year along with any expenses you paid relating to your property. You’ll also need to report any capital cost allowance you might have. If you earned rental income on more than one rental property, you’ll need to complete a separate T776 for each property.

What if I’m a resident of Québec?

In addition to the T776, residents of Québec also need to complete a TP-128-V: Income and expenses respecting the rental of immovable property form. Fortunately, the T776 and the TP-128-V forms are combined in H&R Block's tax software, so you can complete both at the same time!