John L Posted March 21, 2023 Report Share Posted March 21, 2023 Hello I and my wife are co-owners of a rental property, 50% each. I entered the total building value (excluding land) as opening capital cost. After a few years of depreciating the building, it seems that opening UCC in each person's tax return is full amount while depreciation is that's person's share, resulting incorrect ending UCC. My question is the UCC on tax return, should it be full amount or only one person's share? On the interview page, I entered full building value in year 1. Thank you, John Quote Link to comment Share on other sites More sharing options...
Geo123 Posted March 22, 2023 Report Share Posted March 22, 2023 Hello John L, It displays the full opening / closing UCC and CCA and then splits it eg. 50% If you want the UCC calculation to be verified, please contact UFile Support so we may review the file confidentially. Please open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us Quote Link to comment Share on other sites More sharing options...
John L Posted March 23, 2023 Author Report Share Posted March 23, 2023 Thank you for replying but I checked again. It displays full opening, half depreciation, and the calculation of opening and half depreciation, which cause an incorrect ending on my file. Will file for review. Quote Link to comment Share on other sites More sharing options...
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