Tax help?

[mlv]

Thank you !

[torontokids]

Just a word of warning. I have read on here that some things you claim you would be subject to a capital gains tax so just mention this to your accountant as it might not make sense to claim all your expenses.

[playfelt]

Renovations are a bit different in the sense that the value of the finished basement is already figured into what you paid for the house - ie it was done before you moved in. Replacing items such as carpets or painting the walls is claimable as a repair unless you upgrade such as from thin carpet to hardwood. The bathroom again is an addition to add value to the home down the road so claim only parts of it.

[mlv]

I was think the same thing playfelt. That is why I ask first. Thank you for the feed back ladies.