czillman
New Member

Adjust CCA claimed

 

Self-employed

Which version of TurboTax are you using? CD/Download or Online? And are you doing business, rental or employment expenses?
czillman
New Member

Self-employed

I am using a download version.  I am doing rental expenses.  Without the CCA I am already in a loss position. TurboTax automatically calculates the CCA and I am unable to overwrite the CCA calculated.

Self-employed

Are you claiming more than one rental property?
czillman
New Member

Self-employed

Nope. The rules are:
only one property per T776
you can't use CCA to increase your loss or to create a loss on the T776
czillman
New Member

Self-employed

Never mind. I got it figured. Thanks anyway.  I looked to Google rather than TurboTax help.  I guess I should have done that from the start.

Self-employed

CRA rules will allow a rental loss on one property by claiming CCA "if you are claiming more than one rental property". As you are required to complete a separate T776 for each property, this should "only" be happening if you are filing more than one T776 form. TurboTax is set up to limit the CCA claim so a loss is not created or increased on your rental property. 

Please advise us if this is not the case and a loss is being claimed in error. Thanks 🙂