Completing Form T776, Statement of Real Estate Rentals
If you received income from renting real estate or other real property, you have to file a statement of income and expenses.
You report the rental income you earned in the calendar year (from January 1 to December 31).
Form T776, Statement of Real Estate Rentals, will help you calculate your rental income and expenses for income tax purposes.
We suggest that you print a copy of the form. It will make it easier for you to follow the instructions on how to calculate your income and expenses.
Although we accept other types of financial statements, we encourage you to use Form T776. It includes areas for you to enter your gross rents, your rental expenses you can deduct, and any capital cost allowance (CCA) for rental property.
The front of Fform T776 helps you calculate your income or loss. The back of the form contains the charts to calculate your CCA.
To calculate your rental income or loss, complete the areas of the form that apply to you.
Select from the following topics:
- Net income (loss)
- Partnerships - Your share of line d or the amount from slip T5013
- Line 9936 - Capital cost allowance
- Line 9974 - GST/HST rebate for partners received in the year
- Line 9369 - Net income (loss) before adjustments
- Line 9945 - Other expenses of the co-owner
- Line 9943 - Other expenses of the partner
- Line 9949 - Personal portion of expenses
- Line 9947 - Recaptured capital cost allowance
- Line 9948 - Terminal loss
- Line 9946 - Your net income (loss)
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