HI,
I'm using the Ufile software and have never dispose any rentals yet. This will be my first rental that I sold, out of 5 rentals still remaining. When dealing with the software, there is a question , "Did you dispose the assets in this class? " What does this mean? There is suppose to be a slight loss since the selling price is less then the ACB.
Do I have to say No, because I have other rentals...therefore there is a UCC carried foward (capital loss)
or this is a terminal loss situation ?
Thanks.
I'm using the Ufile software and have never dispose any rentals yet. This will be my first rental that I sold, out of 5 rentals still remaining. When dealing with the software, there is a question , "Did you dispose the assets in this class? " What does this mean? There is suppose to be a slight loss since the selling price is less then the ACB.
Do I have to say No, because I have other rentals...therefore there is a UCC carried foward (capital loss)
or this is a terminal loss situation ?
Thanks.