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StayWokeProperty on Instagram: "🏠 Filing Rental Income Tax 2026? Read this first. Not all expenses are created equal 👀 Here’s a simple breakdown of what you CAN and CANNOT deduct: ✅ Deductible (Allowed) Operating Costs • Loan interest • Insurance • Repairs & maintenance • Management fees These help reduce your taxable rental income 💸 ❌ Non-Deductible Costs • Initial tenant / first tenant fees • Furniture purchases • Value-adding renovations These are not claimable under rental income tax rule
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