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V
vijayjoshi
Level 1
March 8, 2023
Question

T776 rental income

  • March 8, 2023
  • 1 reply
  • 5 views

I have rental income shared with my wife. Up & until last year Profile used to calculated & limit the CCA up to rental income & used to make it zero. In 2022 it is calculating full CCA & created a huge loss. Audit summary mentions that it ia an error. 

 

How to correct this? Earlier program used to handle this

This topic has been closed for replies.

1 reply

M
Mario B
Level 11
March 10, 2023

Are you on the latest version of Profile, 2022.3.5 ?

S
Stevie1
Level 4
March 18, 2025

The new format for T776 is confusing. How/where do you enter the long term rental income and expenses, when it only has short term rental income and expenses? I have a client who is renting his condo to the same tenants for years. I am confused. Can someone help please?

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