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rose (anonymous)

Great website and thank you for all the answers you gave to the people like me. I have 3 rental houses in my name and till this year the income and expenses were reported on my personal taxes. Recently I opened up a corporation and put these properties into the trust of the corporation. How do I file the taxes this year? Does anything needs to be different on my personal taxes? Do I have to report the disposition on CCA Schedule? I should mention there was newer any CCA deduction on properties. How do I report that on corporation? First of all, do you report the income and expenses on sch. 7 or sch 125? Is there any schedule/form that needs to be filed with CRA stating it is just a transfer (at original cost) of the properties? I should also say the properties are still under my name (no money exchanged the hands) but were put in trust of the corporation for liability and income tax purposes. Thank you so much for your answer.

MadanCA Team edited question