Income Property - Buidling inspection and notary fees deductible as an expense

Hi,

I purchased an income property in December 2022

I would like to know if the building inspection expense and notary fees for the transaction are deductible as an expense in my 2022 income tax report,

Thanks,

Dan

392

Intuit Alumni

Apr 26, 2023 6:34:49 AM

Please see this Canada Revenue Agency (CRA) link regarding fees: Line 8860 – Professional fees (includes legal and accounting fees)

For more information please see this CRA link about Rental expenses you can deduct

Thank you for choosing TurboTax.

Why sign in to the Community?

Income Property - Buidling inspection and notary fees deductible as an expense