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Is there a way to separate Fed & Qc rental property? It cannot make income, thus unclaimable Fed but must in Qc.
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October 30, 2019
1:21 PM
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Investors and rental owners
There is no need for separation. The rules for reporting rental income in Quebec & on the Federal level are pretty much the same. If you rented out a property with the intent to make income, you can report it even if it makes no money.
If you are renting below market rates with no chance of making income (ex: renting to a family member or friend), then you don’t report that income, but you also can’t claim any expenses regarding it.
October 30, 2019
1:21 PM