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bwheler
New Member

How do I record a loss from selling my rental property for less than I bought it ten years ago?

I bought the property 10 years ago, rented it out ever since and paid tax on rental income each year. I have not claimed capital cost allowance (depreciation), but now I have sold the property for 30,000 less than I bought it. I am not sure how to claim and record this loss. thanks.
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How do I record a loss from selling my rental property for less than I bought it ten years ago?