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aled-griffiths
April 28, 2023
Question

I have borrowed money for a real estate investment property that i still in pre-construction. Can i claim the interest paid in 2022?

  • April 28, 2023
  • 1 reply
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    1 reply

    GabbyI
    GabbyI
    May 1, 2023

    Hi there! 

     

    Yes, if you paid interest on a loan you received, you can claim the amount of interest you paid on that loan in 2022 (or the preceding 5 years). You can claim an amount only for interest you have not already claimed in the past. But if you have no tax payable for the year the interest is paid, it is better for you not to claim it on your return this tax year. 

     

    Hope this helps 

     
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