I need to input the data so one of the appliances ( fridge ) which is a capital expense will be recaptured as an expense
when the house was sold I still had value on my capital expense , the amortization didn’t finish for this capital expense
here is the data :
-opening balance -$115.22
-ACB of the disposition - $130.23
- proceeds of disposition of an asset - zero ( is this correct ?)
If I put zero , this capital expense will be recaptured as terminal loss
- ACB of the disposition-$130.23
is this correct ?
it works with any numbers , but my questions is : is this correct that I input zero in order to capture as a terminal loss , which is recaptured as a regular expense ?
Thank you
Disposing capital expense on the rental property
in NETFILE and filing
Posted
Hi
My rental property was sold last year
I need to input the data so one of the appliances ( fridge ) which is a capital expense will be recaptured as an expense
when the house was sold I still had value on my capital expense , the amortization didn’t finish for this capital expense
here is the data :
it works with any numbers , but my questions is : is this correct that I input zero in order to capture as a terminal loss , which is recaptured as a regular expense ?
Thank you