The IRS Deductions Blog

Question: Deductions question?

Can a landlord use Water and Sewerage bill payments, and Water Heater Payments as a tax write off? I know that landlords have to claim rental income on their taxes as income, but are there any write off’s? I’m thinking about buying an apartment building, but I can’t find anything that says what is a deduction.
Yeah, I know I need to educate myself.. that’s why I’m asking about deductions. lol

Answer: Any money you put into your apartment building would be deductible, from what I know. If you pay the water or gas payments for the tenants, that’s an expense that you use to reduce your income when you do your taxes. Similarly with ANY expense that you put into the property or is related to the property such as repairs, improvements, property taxes, etc.

And, yes, you are wise to educate yourself first. Purchasing an apartment building is a HUUUUUUGE investment — you need to go into it fully armed with as much info as possible and your eyes wide open!

Good luck to you!

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EDITED TO ADD: Oops! I just saw you are in Canada. I answered from a United States perspective. Not sure if the same tax info would apply to you as it does in the US.

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