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Level 1
December 27, 2021
Question

Claiming UCC

  • December 27, 2021
  • 1 reply
  • 3 views

How do I claim UCC for one spouse and not claim for another spouse when both equally own a rental?

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1 reply

Level 8
December 28, 2021

Hi, thank you for using Intuit ProFile Community

ProFile Community has a great article for rentals where spouses are co-owners, here.  A spouse's share of an asset must be entered on their own return. ProFile does not split CCA for spouse co-owners as it does income and current expenses, on the T776. The linked article discusses this ProFile design in detail. 

If set up as detailed in the article, CCA for the year can be adjusted, if required, on form T776CCA

Hope this helps