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Chandra5
Level 1
posted
‎March 07, 2025 07:28 AM
last updated ‎March 07, 2025 7:28 AM

DEPRECATION Re BASEMENT RENTAL

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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Mario B
ProFile Team
ProFile Team
‎March 19, 2025 02:06 PM

DEPRECATION Re BASEMENT RENTAL

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.

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