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New Member
posted Oct 30, 2019 8:12:47 PM

Can mortgage interest, condo fees and property taxes be considered as part of costs to acquire the property to calculate capital gains?

Property does not generated any revenue

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1 Best answer
New Member
Oct 30, 2019 8:12:49 PM

None of those are considered "capital expenses" by CRA and can not be used as part of the adjusted cost base. 

These are all considered personal expenses because this is a personal use property. You must report a gain but cannot claim a loss against personal use property. 

1 Replies
New Member
Oct 30, 2019 8:12:49 PM

None of those are considered "capital expenses" by CRA and can not be used as part of the adjusted cost base. 

These are all considered personal expenses because this is a personal use property. You must report a gain but cannot claim a loss against personal use property.