I had a home inspection for energy done on my home prior to replacing my furnace. Can I claim a portion of this expense as an expense on my rental porperty. I rent out the basement?
Yes, but you can only claim the amount of expenses that relate to the rented part of your house. In this case if your furnace is used for both the personal and rented parts of your home, you first need to determine the percentage of your home that is rented (20%, 30%, 40%). And then you can then claim that percentage of your common home repairs.
Yes, but you can only claim the amount of expenses that relate to the rented part of your house. In this case if your furnace is used for both the personal and rented parts of your home, you first need to determine the percentage of your home that is rented (20%, 30%, 40%). And then you can then claim that percentage of your common home repairs.
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