CanadaPanda Posted April 27 Report Share Posted April 27 I am filing a tax return for 2022. I have two rental properties ( building A & B). Building A generated a rental income of $10715.25( half goes to wife). Building B generated a loss of $3000( half goes to wife). Building A was originally my principle property(Bought in 2013) and it became a rental property(100%) starting in Jan 1st 2022. I tried to claim CCA in building A. My questions are, 1) how to find out the value of the building in the first year of CCA claim? Do I use the statement of property assessment in 2022(first year for rental income purpose) or in 2013(the year I bought the property)? 2) In section of purchase day of the property, does it mean when the property was acquired for rental income purpose which I should enter 2022 or I still enter the actual date of purchase which is 2013? 3) Do I need to apply half-year rule for first year CCA? Quote Link to comment Share on other sites More sharing options...
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.