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Where do you enter soft construction expenses

 
1 Reply
HelperVinoth
Returning Member

Where do you enter soft construction expenses

Hello meli245523

 

According to the CRA, "Depending on your situation, soft costs may be deductible as a current expense or added to the cost of the building." More Info from the CRA on Capital Expenses Look for a section titled Construction soft costs

 

It depends on whether the cost was related to construction/renovation/alteration and the time period of when the work was completed, and when you rented 90% or more of the building.

 

Here's an article that describes how to claim expenses on rental properties.

 

Hope this helps and thank you for choosing TurboTax!