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New Member
posted Aug 30, 2024 12:31:26 PM

No rental in first year can I file expenses

On my first rental property I didn't had any income but during the filing I got TurboTax expert advice that I can file the expenses occurred on my rental unit like  mortgage interest, insurance, property tax, condo fees and repairs. As I was actively looking for tenants as well as property was ready to rent it. But currently I got call from CRA that those expenses are not valid as that property is not considered as rental property until it is been rented and so I cannot claim those expenses. Anyone has any suggestion what should I do? 

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Moderator
Sep 3, 2024 9:08:44 AM

Did you purchase TurboTax Assist & Review or TurboTax Live Full-Service?