I rented out my place and got a new place to live. But now, I am paying two mortgages, property taxes, strata and etc. . I can easily add my rental income and deduct taxes and maintenance fees and more from it, but where should I add the mortgage and property taxes of my current principal residence(second residence)? Should I just add it as a deductible to my rental income?
You can't claim mortgage interest payments or other expenses from your principal residence unless you use the property for business, or you rent part of it out.
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