I sold a rental property this year and am struggling to follow the process in Ufile.
The FMV when we converted the property to rental was $450,000 and we sold it for $455,000 (including land value). The balance of CCA (less land value) is $324,164. Which numbers do I enter as proceeds, cost base etc. and where? I have both the schedule 3 and the CCA form to complete, correct?
I am struggling to understand the ACB/Proceeds/UCC and going in circles in the CRA guide. Also does the Ufile program automatically calculate the CCA recapture and add it to my income? I don't see a line for it on the return. I have used Ufile for the 6 years we rented the property and carried forward my returns each year.
Thank you
