Varuna Doshi had rental income before CCA of $3,000 in 2019. The UCC at the beginning of

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Varuna Doshi had rental income before CCA of $3,000 in 2019. The UCC at the beginning of 2019 was $50,000 (Class 1 - 4%). In 2020 the rental income before CCA was $1,000. Varuna chose to expense the allowable CCA on the rental property both years. Which of the following statements is true?

		Varuna has a net rental loss in 2020 of $920.
		Varuna has net rental income in 2019 of $3,000.
		Varuna has net rental income in 2020 of $0.
		Varuna has net rental income in 2020 of $1,000.

Posted Date: Sep 22, 2021 12:30 AM

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Varuna Doshi had rental income before CCA of $3,000 in 2019. The UCC at the beginning of

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2019 50000 4 2000 All deductible 50000 ... View the full answer

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