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barjebus

UCC, CCA, and ACB on sale of rental property

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I've owned a rental property for around 9 years. It was our primary residence for 2 years and when we left it (and it became a rental) we had it assessed and the valuation of the land and building was $307,000 (land was $150,000, building was $157,000). In 2017 I decided to start claiming CCA because the value of the house had gone down quite a bit. I read on these forums that you shouldn't include the land value in the CCA calculation, so I took the building value + capital additions as the UCC (undepreciated capital cost) and the ACB in 2017, which was around $190k. The CCA worked out to around $2k, so 2018's UCC was $188k.

The house sold for $265,000 in 2018, and I've checked the box indicating I disposed of the asset. I entered the sale price of $265,000 and entered the ACB of the disposition to be approximately $351,000 ($307,000 + capital costs of additions to the house + realtor fees + lawyer fees). In ufile, I now owe about $25,000 more on my taxes this year which doesn't make much sense since I took quite a loss on this property. Since land isn't part of the CCA calculation, should I decreate the proceeds of the sale by the value of the land ($150,000?), or should I adjust the UCC? Adjusting the UCC is the only way it appears that I can make ufile start correctly calculating things, and even then it seems to be affecting my taxes owed, when I thought this would be a capital loss (I have very few gains this year so it shouldn't be making such a dent in my taxes owed).

To sum up, my questions are:

1.) What should have been in the UCC field?

2.) What should the proceeds of my sale be?
3.) Why doesn't ufile pay any attention to the ACB of the disposition?

4.) Why is a loss on the sale of a rental property reducing my taxes so much?

I've tried to read about this online and there are tons of resources, but pretty much none of them address the value of the land. Since I've taken that into account in the UCC, I don't know how to go about entering the proceeds of the disposition of the asset. Any ideas or feedback is welcome. Thanks so much!

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