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16
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4
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Jordan Regier
4
Votes |
16
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Showing a loss, gain or breaking even on tax return

Jordan Regier
Posted

Hi Everyone, I am new to investing in rental properties as I mostly build and sell and I have a question about showing a loss or breaking even on my income tax return. Let me give you some background.  I'm building a short term vacation rental property in Sauble Beach, Ontario. We plan to use the cottage a few weeks a year and rent it out the rest of the year. I've done all the calculations and the property is going to cover the expenses and generate a decent amount of cashflow. However it would be relatively easy for me to show a loss or breaking even on the property.  I have a high income from my day job and I'm wondering if Its better to show a loss from my rental property? Any help would be great. thanks.

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