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Calculating adjusted cost base on sale of rental property
When calculating the adjusted cost base on the sale of rental property, can you include a payment for siding repairs. The money was received from the previous owner from an insurance payout, but they did not complete the repair before selling.
Thanks
March 27, 2023
1:59 PM
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Troubleshooting
You can't claim repairs or maintenance costs in your ACB. You can only claim things like additions or improvements (capital costs).
April 2, 2023
12:30 PM