Follow these steps to fix the issue:
- Check Rental Profile: Go to the "Rental Property" section, click "edit" on your property, and in the "Rental Profile," ensure that you have unchecked the box for "Non-compliant short-term rental properties" if it does not apply to you.
- Set CCA to Zero: In the T776 CCA section, verify that no CCA is being claimed (set to $0). If you have no CCA to claim, there should be no entries in the CCA asset list.
- Clear Hidden Carry-Forward Data: Even if you didn't enter it this year, TurboTax may have brought forward old CCA data. Check for any Undepreciated Capital Cost (UCC) balances carried over and set them to zero.
- Delete and Re-enter (If necessary): Sometimes, a temporary fix is to remove the property listing and re-enter it, ensuring you do not select the "non-compliant" checkbox.
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