Same LOC loan account for 2 different IPs (interest expense)

[rabidz]

Had 2 IP that need TLC on the same time.
I'm planning to do some reno and maintenance for these properties.

Questions when dealing with tax return (say for 14/15), whether I can put the cost on the work on the same LOC account.
Example:
Prop. A, cost 10k, on 1-Aug-14
Prop. B, cost 3k, on 20-Sep-14

During the tax time, do I have to split the interest expense for each prop? Or can I combine these 2 together (so I don't have to calculate each property, because at the end of the day they are the cost of investment)?

 

[Paul@PFI]

Best avoided since you must be able to clearly apportion interest. You better be awesome at maths. If its unavoidable keep a spreadsheet that clearly identifies the % of each. You really want to avoid this as in time you will then change it after several months by spending $ on one IP and no the other and so you have pro-rata etc and then you will then do some private item etc...NIGHTMARE.