TaxNerd101

Thanks Geo123. So if I understand this correctly, because there’s a loss on the rental already due to the first year expenses, there’s no way to use the CCA to increase that loss. If/once we have a net profit on the rental, then the UCC can be taken against that?

Thank you! That’s very helpful and comprehensive.

Purchased a new rental property this year. First time using UFile for CCA. I entered the purchase costs as explained in another post, and the boxes are filled in as expect in the T776 form. However, the box for the final deduction (box 18) is 0, and the program did not deduct any depreciation. UCC in box 19 remains the same as the original entered amount. I left the Limit CCA box blank in the interview, changing it to any number does not change the effect. Is this a bug or by design?

Hi there, First time entering WFH expenses using the T777 form. Expense part is no problem. Last year I purchased a sit/stand desk for ~$2000. I believe this can be deducted as a Capital Cost Allowance item. Can you please help me figure out how to enter information into the interview to trigger UFile to fill out page 3 (CCA) of the T777 form? Thanks, Ryan