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    eleanor4
    New Member

    I have a rental loss but TurboTax computed CCA anyway - is this correct?

     
    posted
    ‎October 30, 2019 4:41 AM
    last updated ‎October 30, 2019 4:41 AM
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    TurboTaxTatsiana
    New Member

    I have a rental loss but TurboTax computed CCA anyway - is this correct?

     CCA ( for any of your rental properties)  is allowed to be claimed to the extent of Net income from ALL rental properties on your return. Turbo tax might compute CCA but it should not claim it. Rental loss is allowed when claiming  operating expenses , but CCA can reduce  you  rental income to  zero only. 

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    ‎October 30, 2019 4:41 AM
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    1 Reply
    TurboTaxTatsiana
    New Member

    I have a rental loss but TurboTax computed CCA anyway - is this correct?

     CCA ( for any of your rental properties)  is allowed to be claimed to the extent of Net income from ALL rental properties on your return. Turbo tax might compute CCA but it should not claim it. Rental loss is allowed when claiming  operating expenses , but CCA can reduce  you  rental income to  zero only. 

    ‎October 30, 2019 4:41 AM
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