T776

Statement of Real Estate Rentals

The CRA form individuals use to report rental income and expenses.

The T776, Statement of Real Estate Rentals, is the CRA form an individual files with their personal return to report rental income and expenses. It organizes rent received and deductible costs (insurance, interest, property tax, repairs, management, utilities, and more) into set categories to arrive at net rental income. Getting expenses onto the right lines, and only deducting mortgage interest rather than principal, is where clean records pay off at tax time.

General information only, not legal, tax, or financial advice. Rules change and vary by province; confirm the current details with the relevant authority before you rely on them.