Is rental loss included in gross income, or only the rent collected?
If rental expenses exceed income, is the loss included in gross income, or only the rent collected?
01170
1 Replies
TurboTaxBrenda1
Level 15
Aug 29, 2022 8:30:29 AM
As per CRA: You have a rental loss if your rental expenses are more than your gross rental income. If you incur the expenses to earn income, you can deduct your rental loss against your other sources of income.