You can enter the furniture costs of your rental property under Income > Rental Properties. Furniture is considered a capital asset, so it must be deducted over time - like depreciation. Furniture is a class 8 asset. You'll enter the information relating to the furniture purchase (class, price, date of purchase, etc.) as an addition in the Capital Asset/CCA section of the T776 and a portion of the cost will be available to use as a deduction.
For additional information on rental costs, please visit this page:
How do I enter my rental income and expenses in TurboTax?
For any additional questions, feel free to contact our team here.
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