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ffonglim
New Member

Trouble entering rental income and claiming as sole owner

I am a sole owner of the rental condo 

but after I enter all the expenses, turbo tax seemed to more than double the rental income received 

3 Replies

Trouble entering rental income and claiming as sole owner

Can you please specify which TurboTax version you are using? Is it TurboTax Online or Desktop?

 

Thank you for choosing TurboTax.

ffonglim
New Member

Trouble entering rental income and claiming as sole owner

Hi I am using desktop version 

 

is hst on preconstruction a deductible expense against rental income 

 

I paid 71k hst 

can this be considered a rental income expense 

Trouble entering rental income and claiming as sole owner

As your question is really specific and tax advice related, we suggest you to consult this web link from CRA, where you'll have all the details about eligible expenses for rental income.

 

You can also contact CRA directly for more specifications.