MPN Posted February 25 Report Share Posted February 25 Hi - Can you please help with the following items in CCA section for a condo purchased as a rental property in 2022: Opening balance of the undepreciated capital cost: Should it be left blank as it is the first year? To whom the CCA should be allocated: The property is co-owned by 60%-40% with the spouse, should I choose Partner Level, (Prorated amounts)? ACB of the depreciable capital property in this class: is this the grand total cost of purchase (purchase price+land transfer tax,...) or should it be just the building allocation of this grand total (land % excluded)? Description and amount of capital additions (other than AIIP): As it is the first year and no capital expenses have been incurred, should I use the same value as ABC? if so, where should I put the grand total purchase price for future deposition and capital gain/loss? Thanks Quote Link to comment Share on other sites More sharing options...
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