jameskangsj

Hi, I purchased a property in 2022 and lived in it until 2023. In 2023, I started renting it out. I'm aware that I'd be subject to the change of use rules. The problem is that my ACB of the property (in 2022) is greater than the FMV of the property (in 2023), so I have some losses. Based on my understanding, this loss would be nil because the property was a personal-use property. Is this correct? I would like to claim this loss if possible. Thanks,