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A presale condo completed this year and started generating revenue. We have interest paid on the deposit in previous years. Can we claim that previous interest?

 
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Sunrise1404
Returning Member

A presale condo completed this year and started generating revenue. We have interest paid on the deposit in previous years. Can we claim that previous interest?

Yes, you can if you have income from properties because interest on a mortgage you use to buy a property is deductible if you generate rental income from the property

For more information, visit:  Is Interest Deductible?

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