franklin777
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Posts posted by franklin777
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Damn, I can self answer now 🤣
I have incurred rental loss from another property which is higher than my net rental income from this property. Thus, CCA is not being calculated.
That being said, CCA of $2476 won't be applied unless I have net rental income no less than $2476 across the rentals.
Finger cross.
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Hi Admin,
I found my CCA of T776E is not being calculated. I don't have new CCA for Y2022, all CCA are from previous years which I have no problem with.
From what I understand, Total CCA claim for the year equals the SUM of 20%* UCC at year beginning- that's Col 18 = Col 16 * Col 17 = $2476. Note that my net rental income is positive and also higher than $2476.
I have attached both Y2022 (not calculated) and Y2021 (calculated correctly) screenshot from T1.
Plz advise how to resolve it.
Thanks.
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CCA, Area A of Rental Statement, Form T776
in Reporting income
Posted
I figured out the issue myself. It could be similar to what OP has.