Ho should I claim expanses on investment (rental) property, such as Renovation, Water, Mortgage Interest, Land Transfer Tax in Toronto, etc ?

[mohamed_96]

Thank you for your question.

To enter rental expenses, please complete the following steps:

1) Log into your TurboTax account and type in "Rental properties" in the find section.

2) Confirm that you received income from a rental property for 2020. From there, enter the basic information for the property (address, GST\HST account number).

3) Check off that you have rental expenses in the Rental Profile section.

4) Enter your rental expenses in the T776 Rental Expenses section.

If you have any questions, you can contact our phone support team or contact us via private chat on Facebook or Twitter.

[mohamed_96]

Thank you for your question.

To enter rental expenses, please complete the following steps:

1) Log into your TurboTax account and type in "Rental properties" in the find section.

2) Confirm that you received income from a rental property for 2020. From there, enter the basic information for the property (address, GST\HST account number).

3) Check off that you have rental expenses in the Rental Profile section.

4) Enter your rental expenses in the T776 Rental Expenses section.

If you have any questions, you can contact our phone support team or contact us via private chat on Facebook or Twitter.