PeteH Posted February 12, 2023 Report Share Posted February 12, 2023 Hi, One question on reporting capital gain on rental property. I have claimed CCA on the property over the years and know about the recuperate rule on CCA. My question is - how do I report this recuperate CCA on selling the property? Do I need to go back in each and every tax years to see how much I have claimed in CCA to properly add it back to my selling price? Thanks. Quote Link to comment Share on other sites More sharing options...
Geo123 Posted February 12, 2023 Report Share Posted February 12, 2023 Hello Pete H, CCA recapture is calculated automatically by UFIle. It will take into account the undepreciated capital cost (UCC) as carried forward by UFile. Line 9947 – Recaptured capital cost allowance – add to Rental Income proceeds (dispositions) > UCC A recapture of capital cost allowance (CCA) can occur when the proceeds from the sale of depreciable rental property are more than the total of both: the undepreciated capital cost (UCC) of the class at the start of the year. the capital cost of any additions during the year. https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/completing-form-t776-statement-real-estate-rentals/line-9947-recaptured-capital-cost-allowance.html Quote Link to comment Share on other sites More sharing options...
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