mrq2 Posted February 26, 2022 Report Share Posted February 26, 2022 Condo was rented out until July 1, 2021 and then sold August 12, 2021. Can I claim expenses (condo fees, mortgage insurance, property tax, and condo insurance) for the month of July and half of August (time needed to repair, paint then sell)? Quote Link to comment Share on other sites More sharing options...
BLSM Posted March 2, 2022 Report Share Posted March 2, 2022 Although I couldn't find a definitive answer, I believe you can. After all, if you had that break between renters, you'd continue to claim the expenses. Even though it wasn't rented, it needed repairs between tenants. It was a rental unit, it sold as a rental unit, and your capital gains / losses will be treated as a rental unit. And, if the property hadn't sold, you may have rented it out again. Quote Link to comment Share on other sites More sharing options...
mrq2 Posted March 2, 2022 Author Report Share Posted March 2, 2022 Thanks BLSM Quote Link to comment Share on other sites More sharing options...
dingers Posted March 13, 2022 Report Share Posted March 13, 2022 Yes you definitely can. You should likely claim the repairs and repainting as costs in order to sell, as part of hte capital gains calculation rather than ongoing maintnence on the T776. also make sure you indicate on the T776 that this was the final year or operations. Quote Link to comment Share on other sites More sharing options...
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