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218751wmercer
December 10, 2023
Question

What is the maximum rental loss amount allowed

  • December 10, 2023
  • 1 reply
  • 0 views
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    1 reply

    T
    TurboTaxBrenda
    December 11, 2023

    As per CRA: You have a rental loss if your rental expenses exceed your gross rental income. If you incur the expenses to earn income, you can deduct your rental loss against your other sources of income. 

    There is no specific amount listed.

     

    Here is a TurboTax article with more information that may help you. : Taxes for Landlords: How Taxes On Rental Income Work.

     

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