topic I had my apartment unit on Airbnb for few months which I furnished with TV, furniture, beddings etc, should I add CCA or expense it? I finalized airbnb in the same year. in Self-employed https://turbotax.community.intuit.ca/community/self-employed/discussion/i-had-my-apartment-unit-on-airbnb-for-few-months-which-i-furnished-with-tv-furniture-beddings-etc/01/1637176#M8945 <P>There were condominium rules that prohibited me to carry on Airbnb so I finally decided to just let it go.&nbsp;</P><P>&nbsp;</P><P>I talked to a tax expert and she mentioned to expense it all since I concluded rental business in same year so there won't be CCA to carry on for next year.</P><P>&nbsp;</P><P>If I have to expense it, should I just claim in Other expenses under Rental Income along with Condo Fee, Cleaning Fee etc or should I add CCA values with correct classes (like Class 8 for furniture etc, 12 for cutlery, linens, coffee maker etc) and use <STRONG>No assets left in class</STRONG> (even though some things are still in my use).&nbsp;</P><P>&nbsp;</P><P><STRONG><span class="lia-unicode-emoji" title=":warning:">⚠️</span>Edit:</STRONG></P><P>I've concluded all type of rentals for this unit (long term, airbnb) and is my principal residence now.</P><P>So basically.. Jan'19 - Mar'19 was on long term rental (started last year and had to evict tenant after that), and from Apr'19 to Aug'19, it was on Airbnb. I moved in Sept'19 till now.</P> Wed, 17 Jun 2020 04:40:26 GMT jigzyy 2020-06-17T04:40:26Z I had my apartment unit on Airbnb for few months which I furnished with TV, furniture, beddings etc, should I add CCA or expense it? I finalized airbnb in the same year. https://turbotax.community.intuit.ca/community/self-employed/discussion/i-had-my-apartment-unit-on-airbnb-for-few-months-which-i-furnished-with-tv-furniture-beddings-etc/01/1637176#M8945 <P>There were condominium rules that prohibited me to carry on Airbnb so I finally decided to just let it go.&nbsp;</P><P>&nbsp;</P><P>I talked to a tax expert and she mentioned to expense it all since I concluded rental business in same year so there won't be CCA to carry on for next year.</P><P>&nbsp;</P><P>If I have to expense it, should I just claim in Other expenses under Rental Income along with Condo Fee, Cleaning Fee etc or should I add CCA values with correct classes (like Class 8 for furniture etc, 12 for cutlery, linens, coffee maker etc) and use <STRONG>No assets left in class</STRONG> (even though some things are still in my use).&nbsp;</P><P>&nbsp;</P><P><STRONG><span class="lia-unicode-emoji" title=":warning:">⚠️</span>Edit:</STRONG></P><P>I've concluded all type of rentals for this unit (long term, airbnb) and is my principal residence now.</P><P>So basically.. Jan'19 - Mar'19 was on long term rental (started last year and had to evict tenant after that), and from Apr'19 to Aug'19, it was on Airbnb. I moved in Sept'19 till now.</P> Wed, 17 Jun 2020 04:40:26 GMT https://turbotax.community.intuit.ca/community/self-employed/discussion/i-had-my-apartment-unit-on-airbnb-for-few-months-which-i-furnished-with-tv-furniture-beddings-etc/01/1637176#M8945 jigzyy 2020-06-17T04:40:26Z
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topic I had my apartment unit on Airbnb for few months which I furnished with TV, furniture, beddings etc, should I add CCA or expense it? I finalized airbnb in the same year. in Self-employed
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https://turbotax.community.intuit.ca/community/self-employed/discussion/i-had-my-apartment-unit-on-airbnb-for-few-months-which-i-furnished-with-tv-furniture-beddings-etc/01/1637176#M8945
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<P>There were condominium rules that prohibited me to carry on Airbnb so I finally decided to just let it go.&nbsp;</P><P>&nbsp;</P><P>I talked to a tax expert and she mentioned to expense it all since I concluded rental business in same year so there won't be CCA to carry on for next year.</P><P>&nbsp;</P><P>If I have to expense it, should I just claim in Other expenses under Rental Income along with Condo Fee, Cleaning Fee etc or should I add CCA values with correct classes (like Class 8 for furniture etc, 12 for cutlery, linens, coffee maker etc) and use <STRONG>No assets left in class</STRONG> (even though some things are still in my use).&nbsp;</P><P>&nbsp;</P><P><STRONG><span class="lia-unicode-emoji" title=":warning:">⚠️</span>Edit:</STRONG></P><P>I've concluded all type of rentals for this unit (long term, airbnb) and is my principal residence now.</P><P>So basically.. Jan'19 - Mar'19 was on long term rental (started last year and had to evict tenant after that), and from Apr'19 to Aug'19, it was on Airbnb. I moved in Sept'19 till now.</P>
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I had my apartment unit on Airbnb for few months which I furnished with TV, furniture, beddings etc, should I add CCA or expense it? I finalized airbnb in the same year.
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https://turbotax.community.intuit.ca/community/self-employed/discussion/i-had-my-apartment-unit-on-airbnb-for-few-months-which-i-furnished-with-tv-furniture-beddings-etc/01/1637176#M8945
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<P>There were condominium rules that prohibited me to carry on Airbnb so I finally decided to just let it go.&nbsp;</P><P>&nbsp;</P><P>I talked to a tax expert and she mentioned to expense it all since I concluded rental business in same year so there won't be CCA to carry on for next year.</P><P>&nbsp;</P><P>If I have to expense it, should I just claim in Other expenses under Rental Income along with Condo Fee, Cleaning Fee etc or should I add CCA values with correct classes (like Class 8 for furniture etc, 12 for cutlery, linens, coffee maker etc) and use <STRONG>No assets left in class</STRONG> (even though some things are still in my use).&nbsp;</P><P>&nbsp;</P><P><STRONG><span class="lia-unicode-emoji" title=":warning:">⚠️</span>Edit:</STRONG></P><P>I've concluded all type of rentals for this unit (long term, airbnb) and is my principal residence now.</P><P>So basically.. Jan'19 - Mar'19 was on long term rental (started last year and had to evict tenant after that), and from Apr'19 to Aug'19, it was on Airbnb. I moved in Sept'19 till now.</P>
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