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Multiple rental properties offset net loss
I have two rental properties, one has a net loss and one has net income. The net loss is greater than the net income. TurboTax automatically nets out the income for me and does not allow me to use CCA to net out the income in the property that has a gain this year. Is this a CRA rule or TurboTax's business rule?
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posted
October 29, 2019
10:45 PM
last updated
October 29, 2019
10:45 PM
1 Best answer
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Multiple rental properties offset net loss
This is a CRA rule....Turbo Tax is properly restricting your claim for CCA. For more info please see http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/cca-dpa/mch-eng.html
October 29, 2019
10:45 PM
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Multiple rental properties offset net loss
This is a CRA rule....Turbo Tax is properly restricting your claim for CCA. For more info please see http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/cca-dpa/mch-eng.html
October 29, 2019
10:45 PM
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Multiple rental properties offset net loss
Thanks! This is helpful.
October 29, 2019
10:45 PM