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I
ifreedom451
April 20, 2023
Question

Income Property - Buidling inspection and notary fees deductible as an expense

  • April 20, 2023
  • 1 reply
  • 0 views

Hi,

 

I purchased an income property in December 2022

 

I would like to know if the building inspection expense and notary fees for the transaction are deductible as an expense in my 2022 income tax report,

 

Thanks,

Dan

    1 reply

    G
    GHarpe
    April 26, 2023

    Please see this Canada Revenue Agency (CRA) link regarding fees: Line 8860 – Professional fees (includes legal and accounting fees)

    For more information please see this CRA link about Rental expenses you can deduct

     

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