1. Aziz purchased a residential rental property on April 15, 2019. He paid $300,000 cash for the building and paid an additional $540 for eligible rental expenses during 2019. He rented the property on May 1 to long-term tenants for $1,400 per month. On his 2019 tax return he should report net rental income of (HINT: Remember to calculate CCA)

A. $4,660.

B. $7,173.

C. $6,633.

D. $10,660.

Answer rating: 100% (QA)

When someone purchase a residential building they can claim CCA 4 on the bu... View the full answer