If we claim income for 2017, what can we claim to reduce this income? soft cost such as mortgage interest and property tax?
If we can only claim this income for 2018, does that mean all "current expenses" in 2017 are wasted (can't be claimed)? Or can we make them capital costs? Add renovation cost, utilities cost during renovation period, mortgage interest, house insurance, property tax to the cost of the building?
Thanks in advance.
