How can I add renovation expenses done to my primary residence (condo) in 2021?

You can only claim renovations to your home if they were to help senior or disabled persons access or live in the home. This Canada Revenue Agency (CRA) website has more information on what renovations qualify: Line 31285 – Home accessibility expenses 

 

Below are steps to claim your eligible renovation expenses in TurboTax Online:

1. Select Find (or the magnifying glass icon) from the top right
2. In the Find window, type “home” and choose “Home Accessibility Tax Credit” from the list. Then click “Go”. 
3. Enter your expenses on the “Home Accessibility Expenses” page, then click the “Continue” button to save your work.

 

 Some provinces also have a home renovation credit, which you can find in the province section of the return if you are in one of those provinces.

If your expenses don’t qualify for any federal or provincial home renovation credit, then you can’t claim them on your tax return for this year.

 

Instead, when you sell the condo, you will add the renovation expenses to your adjusted cost base (ACB) when you report the sale on your tax return for that year.

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