Thanks nelsona appreciate your responses across the forum they've helped me a lot in the past.
I've gone through the rental-income CRA guide and it has section on calculating capital cost when change of use occurs and that brought up a few questions in my mind:
1- Is there a deemed disposition ...
Search found 2 matches
- Fri Apr 08, 2022 8:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CCA / USA Depreciation Cost Basis for Canadian Rental Property
- Replies: 3
- Views: 2003
- Sat Apr 02, 2022 10:53 pm
- Forum: Canada / United States Tax & Accounting
- Topic: CCA / USA Depreciation Cost Basis for Canadian Rental Property
- Replies: 3
- Views: 2003
CCA / USA Depreciation Cost Basis for Canadian Rental Property
Canadian currently in US.
Owned a condo in Canada that was my principal residence purchased in 2014.
Departed Canada to USA in March 2019. Filed Canadian departure taxes but wasn't able to rent out my condo at the time.
First Rented the condo out in June 2021.
First time reporting rental income ...
Owned a condo in Canada that was my principal residence purchased in 2014.
Departed Canada to USA in March 2019. Filed Canadian departure taxes but wasn't able to rent out my condo at the time.
First Rented the condo out in June 2021.
First time reporting rental income ...