New answers tagged rental-property
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Can I deduct costs associated with rental improvements?
Yes. Rental is a business. Cost of maintaining and improving the rental is a legitimate business expense. Note that if only part of the building is being rented and the improvement covers the whole ...
- 42.9k
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Canada/Ontario Principal residence exemption
You will be able to claim principal residence exemption for the years you live in it, not for the prior years where you didn't. In the year where you stop renting it and start living it, you may also ...
- 42k
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US Short Term Rental - Can You Deduct The Full Property Depreciation And Property Taxes For A Primary Residence?
You prorate the deduction based on the business use days. For the days when the property is not available for rent you cannot deduct the expenses. See the IRS Publication 527.
- 166k
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