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Level 1
March 7, 2025
Question

DEPRECATION Re BASEMENT RENTAL

  • March 7, 2025
  • 1 reply
  • 1 view

My client has rented her basement, but she lives in the upper part of the house, can I use the CCA on the property as losses in line 9270 of T776?

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1 reply

Level 11
March 19, 2025

you can take CCA on rental income but you can not use CCA to increase a loss. Also, if its only a part of the house, there will be tax consequences when you sell the house.