Line 9948 – Terminal loss

If the amount in column 7 – Undepreciated capital cost (UCC) after additions and dispositions (column 2 plus column 3 minus column 5) of Area A is positive and you no longer own any property in that class, you have a terminal loss. More precisely, you may have a terminal loss when, at the end of a fiscal period, there is no longer any property in the class, but there is still an amount you have not deducted as capital cost allowance (CCA).

You can usually subtract this terminal loss from your rental income in the year you disposed of your depreciable property. If the loss is more than your rental income, you can create a rental loss.

Enter any terminal loss amount you had on the sale of rental property on this line.

If you are a co-owner, enter your share of the amount.

Forms and publications

• Guide T4036, Rental Income
• Form T776, Statement of Real Estate Rentals
• Income Tax Folio S3-F4-C1, General Discussion of Capital Cost Allowance

Related links

• Capital cost allowance (CCA) for rental property