rental property capital loss but with CCA recapture
Moderator: Mark T Serbinski CA CPA
rental property capital loss but with CCA recapture
Hi, I used to be a non-resident and became a resident last year. Have a rental property switched to principal residence. It will be a deemed disposition. The land value decreased, but the building value increased a lot per the provincial assessment. If using the initial building/property ratio, the recapture will be a lot smaller than the city assessment. I claimed CCA in previous years, can I use the latter method for cca recapture? Thanks
Re: rental property capital loss but with CCA recapture
This is a purely Cdn tax question. Lots of forums out there for that.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing