Rental Income


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sam002   
Member since: Mar 10
Posts: 4
Location: Toronto

Post ID: #PID Posted on: 23-03-10 22:06:59

I have a house and rent it to my parents to cover the basic costs (mortgage, property insurance). Am I allowed to zeo out the income from this rental from income tax prespective?

My yearly income is lower than the total amount I pay for th Mortgage, property tax and utlities alone.

Sam





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