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Level 1
April 3, 2023
Question

In T1 form T776 rental CCA schedule, when a disposition of a building has proceeds less than UCC, there is a terminal loss. However the form does not allow a terminal loss. It only deducts the proceeds from the UCC.

  • April 3, 2023
  • 2 replies
  • 8 views
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2 replies

Level 11
April 3, 2023

the terminal loss should show up on box 9948. On the T776 CCA form, you need to answer yes to Terminal loss at the top

Level 11
April 4, 2023

Also make sure you are on version 2022.4.0