Updated almost 6 years ago on . Most recent reply
Using tax deductions to own a country house for free?
Hey guys,
I’m in Quebec, Canada and looking to purchase a cabin/country house for personal leisure purposes.
But I’m thinking; if I rented it out a let’s say 2 weeks of the year, can I claim the other 50 weeks of the year that it won’t be rented as losses and deduct all the expenses? I figure if i can do that, the country house would be almost free for me to use the 50 weeks of the year.
Am i totally off here or can this work? Let me know your thoughts. Thanks guys. :)
Most Popular Reply
No that is tax fraud, because you'd only be able to claim the two weeks worth of expenses while the property was in service.