- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How do i calculate my UCC? i bought a rental condo on Dec 2021 and this is my 1st year filing the rentals.
Turbo tax is asking my prior year UCC. is this the purchase price + property transfer tax?
April 15, 2023
7:06 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors and rental owners
If you haven't taken CCA (Capital cost allowance) in previous years, then you won't have a UCC (Undepreciated capital cost). You would need to enter your asset as an addition (this is where you would enter the cost), and then you will have a UCC generated that you can use next year.
April 17, 2023
5:29 PM