I purchased a condo for rental Dec 2021 but did not incur expenses related to property until 2022. I rented it out in 2022. I did not enter in CCA for 2021

Forum|Forum|2 years ago
May 1, 2023
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Unsure what to put for 1) Acquisition date of purchase 2) how to claim capital expenditures for renovations/appliances/furniture purchase 3) what amount of CCA do I use - the purchase price?

ShwethaK

Hi kris210
Please refer the article : https://turbotax.intuit.ca/tips/claiming-rental-income-5190

Based on details provided

1) Acquisition date of purchase: Date property was purchased
2) how to claim capital expenditures for renovations/appliances/furniture purchase :
If you have claim /expenses on expenditures for renovations/appliances/furniture purchase add
3) what amount of CCA do I use - the purchase price?
If CCA was unclaimed last year , then that should be the beginning balance this year ( i.e same as purchase price of property)
Hope this helps.

Regards