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When calculating CCA rate on Class 8 expenses for rental properties, it does not appear to take a value for the CCA deduction.

There is also no field to spcify the month that the equipment was purchased (ie. November 2014 would be a 2/12 and 20% CCA calculation.) How is this modifed or is this a software issue?

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Accepted Solutions
fuzzy
New Member

When calculating CCA rate on Class 8 expenses for rental properties, it does not appear to take a value for the CCA deduction.

Is it possible that you already have a net rental loss before claiming CCA?  You should be aware that you cannot create or increase a rental loss by claiming CCA.  Also, the half-rate rule applies to the additions you make during the year.  Because of this you do not have to pro-rate CCA further by the 2 months out of 12 that you owned the property.  For more info please see http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/cca-dpa/mch-eng.html 

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2 Replies
fuzzy
New Member

When calculating CCA rate on Class 8 expenses for rental properties, it does not appear to take a value for the CCA deduction.

Is it possible that you already have a net rental loss before claiming CCA?  You should be aware that you cannot create or increase a rental loss by claiming CCA.  Also, the half-rate rule applies to the additions you make during the year.  Because of this you do not have to pro-rate CCA further by the 2 months out of 12 that you owned the property.  For more info please see http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/cca-dpa/mch-eng.html 

kbos2
New Member

When calculating CCA rate on Class 8 expenses for rental properties, it does not appear to take a value for the CCA deduction.

I don't have a net loss for my rentals and,  yet,  TurboTax is not calculating CCA on my UCC.