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pavankang
May 2, 2022
Question

Anyone know where I can add a large renovation to a rental property in turbotax? thanks

  • May 2, 2022
  • 1 reply
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    1 reply

    TurboTaxSusan
    TurboTaxSusan
    May 9, 2022

    When you enter the renovation expenses depend on whether they were current expenses or capital expenses. Capital expenses would be added to the value of the property. Current expenses you can claim right away.

     

    This Canada Revenue Agency (CRA) webpage has more information on the difference between current & capital expenses: Current Expenses Or Capital Expenses

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