how to carry over loss of rental to future?

[shsamardar]

Hi forum

We are non residents of canada that live in USA. We have a condo propoerty that we are renting it since 5 years ago we moved to USA.
every year, we file section 216 for that to Canada

This year , we have a loss. our expenses are way more than rental income. :(

property manager was sending withholding tax via NR6.

because in canada it is optional, we don't want to report depreciation of the property for section 216. although in usa it is mandatory and we have to depreciate that in our usa tax.

My question:
1-is there any way we can carry over the loss to next years or the loss will disappear by our reporting and we don't get benefit for future years profit.
can we do better than returning our withholding tax back to us?

2- based on my scenario, is there any reason to get benefit by depreciating the propoerty this year? or as I mentioned my plan not to depreciate is good?

Thanks

[nelsona]

Under 216, your rental loss is of no use, so you should not be doing anything optional to increase your loss.

In fact, you should be raising your rent.