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I have a rental income suite in my home. I am also newly self-employed and work from home. Do I enter my home expenses under one or the other, or both?

The rental suite is 30% of the home, and I have claimed this income and deductions in previous years.  
My home office is 20% of the home.  I claimed this using the flat rate method while I was employed elsewhere.  Now that I am self-employed, can I use the detailed method?  Can I claim the home expenses in both places, or just one?
1 Reply
Trek1
Returning Member

I have a rental income suite in my home. I am also newly self-employed and work from home. Do I enter my home expenses under one or the other, or both?

Thank you for your question. 

As per the Canada Revenue Agency (CRA) Eligibility criteria – Detailed method, the detailed method of calculating home office expenses is applicable to eligible employees only. You would still be able to claim home expenses related to rental income and home office expenses for self-employed using the flat rate method. 

Here is a TurboTax link that you may find helpful - Self-Employment and Rental Income Centre. 

 

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