Showing a loss, gain or breaking even on tax return
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.