Where do I record a deemed disposition of my rental property and also to where to enter recapture of CCA with associated property?

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Reporting the Disposition of Capital Property

Even if you don’t have a capital gain or loss, you still have to report the proceeds of disposition every time you sell a capital property. Complete Schedule 3 to determine what you need to report. This form has eight different sections devoted to different types of capital property, and it helps you calculate your capital gains to report on line 127 of your income tax return.

Please click here for Dos and Don’ts: CCA for Rental Property 

Line 9947 – Recaptured capital cost allowance

A recapture of capital cost allowance (CCA) can occur when the proceeds from the sale of depreciable rental property are more than the total of both:

• the undepreciated capital cost (UCC) of the class at the start of the year
• the capital cost of any additions during the year

If you have recapture of CCA (the amount in column 6 – undepreciated capital cost (UCC) after additions and dispositions (column 2 plus column 3... of Area A is negative), enter it on this line.

If you are a co-owner, enter your share of the recapture.