- Joined
- Apr 12, 2009
- Messages
- 76
I have a joint venture rent to own property with someone in Alberta. This is the first year for the tax report on this property. He said he will send me a form T776, including the portion of money he paid me every month as income plus the portion of principal pay down as income. I don't understand the principal pay down as income. I thought we report the gross income and deduct the interests and other expenses. Please help!