Real estate income in the case of co-ownership…

In the case you and your friend have purchased a real estate and renting out and receive rental fee, you and your friend need to file tax return respectively.

In real estate register, ratio of ownership is registered ( assumed you 70% : your friend 30% ).

If you and your friend earn 10 million yen in total, you can submit tax filing paper that your income is 7 million yen.

And your friend can declare amount of earning is 3 million yen, roughly speaking.

You and your friend can use basic deduction etc..

joint ownership of real estate in Japan

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