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    offday
    New Member

    IF I CLAIM CCA ON RENTAL PROPERTY DOES IT INCREASE TAX OWED AT THE TIME OF DISPOSITION?

     
    posted
    ‎October 30, 2019 4:13 AM
    last updated ‎October 30, 2019 4:13 AM
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    TurboTaxTatsiana
    New Member

    IF I CLAIM CCA ON RENTAL PROPERTY DOES IT INCREASE TAX OWED AT THE TIME OF DISPOSITION?

    If you sell property at a gain, all CCA claimed for the time of ownership will become income in the year of sale (recapture) and  difference of Sales price less adjusted cost base will be treated as capital gains. 

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    ‎October 30, 2019 4:13 AM
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    TurboTaxTatsiana
    New Member

    IF I CLAIM CCA ON RENTAL PROPERTY DOES IT INCREASE TAX OWED AT THE TIME OF DISPOSITION?

    If you sell property at a gain, all CCA claimed for the time of ownership will become income in the year of sale (recapture) and  difference of Sales price less adjusted cost base will be treated as capital gains. 

    ‎October 30, 2019 4:13 AM
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