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posted Apr 28, 2023 2:23:10 PM

I have borrowed money for a real estate investment property that i still in pre-construction. Can i claim the interest paid in 2022?

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1 Replies
Level 1
May 1, 2023 11:31:33 AM

Hi there! 

 

Yes, if you paid interest on a loan you received, you can claim the amount of interest you paid on that loan in 2022 (or the preceding 5 years). You can claim an amount only for interest you have not already claimed in the past. But if you have no tax payable for the year the interest is paid, it is better for you not to claim it on your return this tax year. 

 

Hope this helps