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hpgd2017
New Member

Should I break down occupancy fee to tax/interest/management fee to report on T776 against rental income? Thanks

I rented out my condo and paid occupancy fee before final closing, should I break down occupancy fee to taxes, interest and management fee on T776 instead of a lump sum amount for Other Expense? I'm afraid other expense will trigger audit. Thanks

1 Reply

Should I break down occupancy fee to tax/interest/management fee to report on T776 against rental income? Thanks

Yes. If you have the actual breakdown of your expenses, it's always a good idea to enter them in the specific categories that are available on any schedule or statement of the tax return.