HI
i have rental property and am using TurboTax premier desktop version and need help claiming CCA for property depreciation
as there are 3 columns class # UCC start of year and cost of addition
for class no i think its 1 dont know what to fill under UCC and cost of addition
Thank you for choosing Turbotax premier.
Depreciable properties are grouped into various classes. The complete list of depreciable property classes is posted on the Canada Revenue Agency’s website where you can find your class.
After Finding your class, go to your TurboTax return and follow these steps:
1) Go to your Income section then go to the rental income.
2)After finishing with your rental income and rental expenses, it will lead to the UCC section.
3)First it will ask about the balance from the prior year, for those who have carrying amount from last year.
4) you are doing this for the first time, you need to enter details in the additional for the current year.
5) In the current year you need to select a class then write a description of the property, then enter the date when you bought the property and the cost.
For more information visit this link: https://turbotax.intuit.ca/tips/dos-and-donts-cca-for-rental-property-explained-6377