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New Member
posted Oct 30, 2019 4:41:09 AM

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

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New Member
Oct 30, 2019 4:41:11 AM

 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. 

1 Replies
New Member
Oct 30, 2019 4:41:11 AM

 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.