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What would be the minimum net rental income (loss) that the individual would include in his net income? An individual purchased a rental property for
- What would be the minimum net rental income (loss) that the individual would include in his net income?
- An individual purchased a rental property for $120,000 in a prior year.
- The property currently has an Undepreciated Cost of Capital (UCC) of $60,000.
- Gross rental income for the year was $12,000.
- Total expenses, excluding capital cost allowance (CCA), were $10,000.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
