I'm a first time investor with my first IP being NRAS compatible . An up front cost of $5500 creditation fee was required with the NRAS agent of which I was advised is tax deductible ( not including ongoing fees).
Now upon filing my tax return with an accountant I was advised that it wasn't deductible as it is considered a capital cost? WTF?
I spoke with the NRAS agent and they were adamant it is deductible similar to that of PM fees .
I'm confused and don't know who to believe .
Is the NRAS agent ripping me off?
Now upon filing my tax return with an accountant I was advised that it wasn't deductible as it is considered a capital cost? WTF?
I spoke with the NRAS agent and they were adamant it is deductible similar to that of PM fees .
I'm confused and don't know who to believe .
Is the NRAS agent ripping me off?