Is there a Itc for a pure income rental home. Nothing owing on the home purchased with the intent of increase in value while making income from the rental

[whitecroft22]

It’s a ski resort property. Townhouse

[ChetC7]

Hi there,

You will be required to report the proceeds from the sale of your rental home, for the year when it happens, as a gain or a loss.

Here's some additional information you could use: 
https://turbotax.community.intuit.ca/community/investments-rentals/discussion/how-to-report-sale-of-...

Thanks!

[whitecroft22]

Sorry lets go at this a different way, is there an ITC for rental income as a solid portion of our combined income, or is this only applicable for property sold?

[ChetC7]

Got it, thanks for clarifying that.

Yes, income from rental properties is considered taxable income and needs to be reported.

Here’s more information for you:

https://turbotax.community.intuit.ca/turbotax-support/en-ca/help-article/income/enter-rental-income-...

Do let me know if this answers your question(s), or if you’d need additional information. Thanks!