Attorney & Brokerage fees paid for acquiring Real Proper

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Slong
Posts: 9
Joined: Thu Feb 02, 2012 10:30 pm
Location: Michigan

Attorney & Brokerage fees paid for acquiring Real Proper

Post by Slong »

I live in USA. For the first time I have rental income by way of acquiring real property in Canada. My question is in Canada "can I deduct from rental income closing costs, attorney fees, title insurance, and brokerage commissions I paid to acquire property?". Or all these costs become part of property cost and hence can not be deducted from income.
Thanks in advance.....
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JGCA
Posts: 754
Joined: Thu Nov 18, 2010 3:05 pm
Location: Montreal, QC Canada

Post by JGCA »

These would have to be capitalized
JG
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