Worksheet for Disposition of Rental Property

Disposition of Rental Property

Worksheet for Disposition of Rental Property Purchase of:_________________________________________________________________

Date:_____________ Purchase Price:________________

Expenses:____________

Land/Building ratio at time of purchase:__________________

Allocation to: Property cost Expenses Total cost Cost of additions ACB

Land

Building

Appliances

Sold on:_____________ for $_______________ Expenses upon sale $______________

UCC at time of sale

Land/Building ration at time of sale:_______________________

Allocation to: Sales price Expenses

Land

Building

Appliances

Data Entry of Disposition:

All disposition data is to be entered in the Business section from where the amounts will be transferred to Form T776 and to Schedule 3 if applicable.

Building and Appliances: If not already done so, select the applicable class from the menu on the CCA-Class line

and enter the description and the UCC on the following lines. Make the correct selection on the CCA-Type line. Answer `Yes' on the Disposition line and on the Liquidate line. Enter a description on the Proceeds line and the portions of the sales price applicable to the building and the appliances in the fields provided in these CCA-Class groups. Enter the ACB as calculated for building and appliances in the field on the ACB-Disp lines in the applicable CCA-Class groups. Enter the portion of the expenses upon sale as they apply to the building and the appliances in the field on the Exp-Disp lines in these CCA-Class groups.

Land: Select `Land ? non depreciable property' from the menu on the CCA-Class line. Enter the disposition data on the Proceeds, ACB-Disp and Exp-Disp lines as before.

? 2014 H&R Block Canada, Inc.

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