Hi,
how and where to deduct a utility trailer purchased as a tool to renovate a rental property?
Furthermore, is it similar to motor vehicule expenses or should it be treated as a prepaid expense?
Furthermore still, once the renos are completed, the % use of the trailer related to the rental property goes way down. How can this be factored in if the trailer is kept vs sold?
trailer costs are:
-initial purchase
-accessories, repair, maintenance
-insurance
Any insights or CRA literature would be super appreciated.
thank you
