- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Is CCA Recapture automatically calculated in Turbo Tax? Where is this handled or entered?
I sold a rental property in 2021. I claimed CCA in previous years
April 2, 2022
4:57 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self-employed
Yes, recapture is automatically calculated in Turbo Tax. After entering your Undepreciated Capital Cost (UCC), on the “[Your Name] here's your capital cost allowance for your assets” page, click the “Enter Additions/Dispositions in the Current Year” and enter your asset as a disposition. If your UCC is negative, you have a recapture of CCA, and TurboTax will add this amount to your rental income.
For more information about recapture and CCA (Capital Cost Allowance), please check out this TurboTax Article: Recapture of Capital Cost Allowance
Thank you for choosing TurboTax.
April 5, 2022
5:34 PM