szysagittar Posted March 8, 2021 Report Share Posted March 8, 2021 Hi, sorry it is my first time to rent property, I am trying to claim depreciation for rental property for 2020. I have questions with the tax return report generated with my input, please help. for testing purpose example, if I have a bed frame furniture I bought for $200 with my rented apartment. In CCA page, I input like this below  I added one page with Class8,  filled the box "Opening balance of the UCC" with $200  filled purchase date  filled description and amount of captial additions(other than AIIP) with $200 like above, but the entry generate in T776 below I could not understand, //question 1 from the T776 form generated, in Area A, the column 13, it becomes 400, i know it looks not correct, but I dont know how should I fill that previous interview form Class 8 to correct this area, which box I should fill? Please advice //question 2 from the T776 form generated, in Area B, it filled the equipment addition in the year, but I also know there is a "half-year rule" that I can usually claim CCA only on one-half of my net additions to a class, does that mean I purchase this bed frame for $200 and I can only input 100?, and in which box? //question 3 Because I only rented my apartment for 2 months in 2020, it was a rental loss, based on CRA's topic, limits on CCA, I cannot use CCA to create a rental loss, then my question is,  it means I can only claim CCA in 2021 tax return report right?  then my furniture become 1 years old, how can I input my bed frame in my 2021 CCA Claim? still input $200 ? Please advice, thank you very much in advance ! Kind regards, Quote Link to comment Share on other sites More sharing options...
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