Line 12600 - Rental income
Line 12600 - Rental income
Rental income is income that you earn from renting property you own or have use of. You can own the property by yourself or with someone else. Rental income includes income from renting a house, apartment, room, space in an office building, or other real or movable property.
NEW! As of January 1, 2024, individuals are no longer able to deduct expenses related to non-compliant short-term rentals. This change applies to all expenses, including interest expenses incurred after 2023 to earn income from operating non-compliant short-term rentals. For more information about these changes, see Guide T4036, Rental Income.
|
|
|