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posted Mar 27, 2023 1:59:31 PM

Calculating adjusted cost base on sale of rental property

When calculating the adjusted cost base on the sale of rental property, can you include a payment for siding repairs. The money was received from the previous owner from an insurance payout, but they did not complete the repair before selling. 

 

Thanks

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Moderator
Apr 2, 2023 12:30:47 PM

You can't claim repairs or maintenance costs in your ACB. You can only claim things like additions or improvements (capital costs).