Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 

If I rent out a portion of my house, how much can I write off? Additionally, can I depreciate my house?

 
1 Reply

If I rent out a portion of my house, how much can I write off? Additionally, can I depreciate my house?

How much you can write off depends on the number of expenses you have. You may want to have a look at the following article from TurboTax - Dos and Don’ts: CCA for Rental Property Explained , as it explains that you can deduct rental expenses which include homeowner’s insurance, property taxes, maintenance fees, advertising, mortgage interest, utility costs, and property management fees                

 

To answer your second question yes you can depreciate your house as well. To find more information about this I would recommend you check this link from the CRA. It will provide detail about CCA for rental properties   

 

If you require further assistance please contact our  phone support team  for further assistance or contact us directly on  Facebook  or  Twitter