In trust tax return, does acquisition amount equal purchase price and renovation cost

 Author: natashak(Initiate)Initiate

3 Aug 2022

Thanks Bruce,

Just to be clear:

Year 1 Tax return rental property schedule:

Acquisition date XX,

Acquisition Amount = purchase price + reno cost + buying cost + holding cost to first rental.

Year2 and ongoing - does the above data (ie acquisition date and amount) need to be repeated in the acquisition section every year, or is this data just required for the first year tax return?

Thank you

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