3.3.4 Share of costs in jointly owned property
Applies to the income year 2017
This item shows your expenses in connection with your shares in housing cooperatives and/or jointly owned property. The expenses may concern the cooperative's/jointly owned property's interest expenses and other expenses which are to be split between those who own shares. The amount will normally be pre-completed with the amount that has been reported by the housing cooperative/jointly owned property, so you should check that everything is correct.
For information regarding share of debt in a housing cooperative or jointly owned property, see item 4.8.2.
Does this item concern me?
This item concerns everyone who owns a share in a housing cooperative or jointly owned property.
It is primarily the co-owner's share of interest costs incurred by the joint property ownership/housing co-operative which is to be entered as a deduction in item 3.3.4. However other costs may occasionally qualify for a deduction, for example:
- Share of loss in connection with the actual assets, property, capital assets and similar owned by the joint property ownership/housing co-operative
- Share of the housing co-operative's costs in connection with pension premiums to full-time employees, share of the housing co-operative's joint costs qualifying for deductions which are unconnected to the housing (such as actual stock losses)
- Charges to joint owners in connection with "IN-lån" (individual payment of joint debt) will qualify for a deduction regardless of whether the charge comes from the housing co-operative or another business manager.
How do I enter this in my tax return?
The item will normally be pre-completed with the amount for your share of the expenses of the housing cooperative/jointly owned property. The amount(s) will be based on what has been reported by the housing cooperative/jointly owned property, so you should check that everything is correct.
The amounts you should perform the check against will be shown in the annual statement you receive from the housing cooperative/jointly owned property in January.
If the amount shown is wrong, you must change it in the tax return. You should contact the housing cooperative/jointly owned property to ensure that the annual statement is correct.
What if information is missing?
If any information is missing, you must enter the cooperative's/jointly owned property's name, expense, debt and the reason for the change.
Allocation between spouses/registered partners/spouse-equivalent cohabitants
If expenses are to be split between spouses/registered partners/spouse-equivalent cohabitants, the tax returns of both partners must be altered. You must both edit/add information concerning the housing company/jointly owned property, income, capital and the reason for the change.
Other cohabitants who are not spouse-equivalent must be assessed individually for their share of capital/debt and income/deductions, and they cannot freely allocate income between themselves, for example.
You do not need to send us any documentation concerning this, but you must be able to present it upon request.