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  1. Hello, The Ufile is correct in terms of applying the tax rules. The rule applies if you realize a capital gain on the sale of the land and a terminal loss on the sale of the building. Only half of the capital gain is included in income. In contrast, the entire amount of a terminal loss is normally deductible in full. In general terms, a terminal loss on the sale of a building occurs when you sell the building for proceeds that are less than the undepreciated capital cost (UCC) of the building. Basically, in your case, 100% of the loss from the sale of building (land should be calculated separately) is deductible.
  2. Hello Ted, Under interview Tab, you can click on Losses of other years and loss carryback. This will open up the input form to enter losses from other year. Cheers.
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