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Q: If a property has only been rented out for 9 months in the first year, would the direct expenses incurred be calculated proportionately? 

A: Yes, if the property is being rented out for the first time, then the direct expenses incurred have to be calculated proportionately to be deducted against the rental income.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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