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January 23, 2023
Question

Refinancing Rental Property

  • January 23, 2023
  • 1 reply
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I want to do a cash out refinance on my rental property to pay the mortgage off on my primary residence.   I would then only be left with a mortgage on my rental property.  Would i be able to claim 100% of the interest paid on the mortgage?

    1 reply

    January 23, 2023

    You will find guidance in the Canada Revenue Agency link: Line 8710 – Interest and bank charges

    Please also see our TurboTax article: Claiming Expenses on Rental Properties

     

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