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kris210
New Member

I purchased a condo for rental Dec 2021 but did not incur expenses related to property until 2022. I rented it out in 2022. I did not enter in CCA for 2021

Unsure what to put for 1) Acquisition date of purchase 2) how to claim capital expenditures for renovations/appliances/furniture purchase 3) what amount of CCA do I use - the purchase price?
1 Reply
ShwethaK
Returning Member

I purchased a condo for rental Dec 2021 but did not incur expenses related to property until 2022. I rented it out in 2022. I did not enter in CCA for 2021

Hi kris210
Please refer the article : https://turbotax.intuit.ca/tips/claiming-rental-income-5190  

Based on details provided

 1) Acquisition date of purchase: Date property was purchased
 2) how to claim capital expenditures for renovations/appliances/furniture purchase :
    If you have claim /expenses on  expenditures for renovations/appliances/furniture purchase add 
3) what amount of CCA do I use - the purchase price?
   If CCA was unclaimed last year , then that should be the beginning  balance this year ( i.e same as purchase price of property) 
Hope this helps. 

Regards