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cola991
New Member

I bought some new appliances before I sold my rental property. Should I put the cost to "Other expenses" , "CCA", or "Total Outlays and Expenses " ?

 
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I bought some new appliances before I sold my rental property. Should I put the cost to "Other expenses" , "CCA", or "Total Outlays and Expenses " ?

Enter the appliances as new additions to Class 8 in the CCA section of the T776. Then if you designated a value in the purchase agreement for these assets use that value as the disposition amount. If no value was given the use a value of $1.00. This will result in a terminal loss for the appliances.