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I'm wondering if I can claim condo fees for my rental

I'm wondering if I...

I'm wondering if I can claim condo fees for my rental property on my taxes and if so, what section they come under?

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3/8/2018
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
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Hello. Thank you for choosing this Q&A service for assistance. My name is***** will be assisting you. I am prepping my response, which I will provide to you in the next thread(s).

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In brief, the answer to your question is yes, you can claim the condo fees. SEE BELOW:

If you earn rental income from a condominium unit, you can deduct the expenses that you would usually deduct from rental income. You can also deduct condominium fees representing your share of the upkeep, repairs, maintenance, and other current expenses of the common property. For more information, see Interpretation Bulletin IT-304, Condominiums.

REFERENCE SOURCE:

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/completing-form-t776-statement-real-estate-rentals/rental-expenses-you-deduct/other-rental-expenses.html#condo_fees

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Canada Revenue Agency allows you to claim any reasonable expense that you may incur on rental property. The two most common types are capital and current expenses and include items such as advertising costs, legal and accounting expenses, utilities, interest, maintenance costs, property taxes, administration fees, office expenses and wages. These can be reported on form T776, Statement of Real Estate Rentals.

REFERENCE SOURCE:

https://turbotax.intuit.ca/tips/tax-tip-what-rental-expenses-can-i-claim-5212

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Customer reply replied 1 month ago
Thank you for your help. Which of the following current expenses categories would condo fees fall under: Advertising
Insurance
Interest
Legal, accounting, and other professional fees
Maintenance and repairs
Management and administration fees
Motor vehicle expenses
Office expenses
Other expenses
Prepaid expenses
Property taxes
Salaries, wages, and benefits (including employer's contributions)
Travel
Utilities

Other Expenses.

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/completing-form-t776-statement-real-estate-rentals/rental-expenses-you-deduct/other-rental-expenses.html

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