How do you claim a loss on selling a rental property. Bought it a few years ago for $330k sold it for $305k?

[Duy Duc Dao]

There are some different rules that apply to rental properties that sell at a loss (ex: selling depreciable properties at loss)  and the Canada Revenue Agency (CRA) does not allow you to claim a Capital Loss on Schedule 3, instead, you can claim a Terminal Loss on the T776 - Statement of Real Estate Rentals.  

For more information, you can get more details from the CRA website about Selling your rental property. 

If you have any further questions, please feel free to discuss them with us. 

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