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New Member
posted Oct 30, 2019 2:25:25 PM

I own US rental, owned prior to moving to CA. When reporting for CA tax purposes, Should original house cost basis be the starting point to calculate depreciation?

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1 Replies
New Member
Oct 30, 2019 2:25:27 PM

You had a deemed disposition  of property at FMV from  personal use to rental  when you started renting it. This is  your Cost basis for depreciation on Canadian tax return.