# Renting out farm land



## mudman (Mar 23, 2011)

hi everyone long time reader, first time poster.

I am in the middle of filling out my taxes this year, and am looking for deductions against Income from my farm properties. All I have been doing so far is deducting the taxes and mortgage interest. I was looking into writing off vehical expenses. I have two properties located 40 km from my house that are roughly 10 km apart, I usually make a few trips out a year to collect rents or to just check out the property. What is the best way to write off vehical expeneses, can I do the simplified method of 0.52 cents a km or do I have to keep reciepts for fuel, and use a portion of Insurance, maintenace ect, doesn't seem worth it if I have to do all that. Unfortuantly I never used a vehical log book, guess I could make one up now though. Also I will be using turbo tax to file my taxes, can I deduct the cost of turbo tax I used to file my 2010 tax year even though it was purchased in 2011? Thanks in advance and don't hesitate to offer any other tax tips for renting farm land.


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## GeniusBoy27 (Jun 11, 2010)

I must admit I do it with the rough estimation of travel/total usage of the car. I keep a log book, on my computer. I'd like to know this answer to. I think the simplified method would make more sense to me.


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## ghostryder (Apr 5, 2009)

Self employed people are precluded from using the per km method. That's not what the per km rates are for.


http://www.cra-arc.gc.ca/E/pub/tp/it521r/it521r-e.html

See #8


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