Question

Claiming Expenses against rental income

Forum|Forum|3 years ago
February 21, 2023
1 reply
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I purchased a rental property in 2022 but it didn't get rented out until 2023. Can I still claim capital expense against the rental income (which is 0) in tax year 2022? or I will need to wait till tax year 2023?

TurboTaxSusan

You can't use CCA to increase or produce a rental loss. So if you have zero income, then you can still enter in your CCA assets, but you won't be able to claim any CCA this year.

Also please note that you can only claim rental expenses if you were either renting your property or actively searching for tenants.