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pavankang
New Member

Anyone know where I can add a large renovation to a rental property in turbotax? thanks

 
1 Reply

Anyone know where I can add a large renovation to a rental property in turbotax? thanks

When you enter the renovation expenses depend on whether they were current expenses or capital expenses. Capital expenses would be added to the value of the property. Current expenses you can claim right away.

 

This Canada Revenue Agency (CRA) webpage has more information on the difference between current & capital expenses: Current Expenses Or Capital Expenses