rental property capital loss but with CCA recapture

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lilylam
Posts: 11
Joined: Fri Jun 25, 2021 1:54 am

rental property capital loss but with CCA recapture

Post by lilylam »

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
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: rental property capital loss but with CCA recapture

Post by nelsona »

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 :D
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