[Olao32]

Hi guys, I have a tax question for you regarding rental properties. Figured someone must have gone through this in the past. And yes, I know I can PM so and so (that will be my next step if this doesn't work)...but figured this may be useful for anyone else in this situation.

I'll keep it pretty simple. I sold a rental property in the period for less than both it's cost and UCC, thus creating a terminal loss in the period for tax purposes. I am unsure of the deductibility of this loss, and thus the question.

Is this loss determined a capital loss, and thus only deducible against future or current capital gains at 50%?
Or, can I deduct other forms of income against this loss? etc.

I searched on the internet for this but couldn't find much information in this instance, only in the instance of capital gains.

Thanks!