Denis K
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I need help with the UCC Class 8 related to the rental property I disposed of this year. I set it up and never benefitted from any CCA, which means that there should not be any recapture. The gain on sale of the entire property was entered (manually) on Schedule 3 Capital Gains. My issue is I do not know how to close out this CCA Class 8. If I enter either of the following (ACB =UCC and Proceeds = 0) or(ACB =0 and Proceeds = 0) I get a terminal loss which I a not entitled to.
The only way I avoid a terminal loss, is to enter (ACB =UCC and Proceeds = UCC) - Is this correct?
And to be clear, I have clearly indicated that this is a renal property in the return.
Thank you in advance,
