Joanne had rental income before CCA of $3,000 in 20x0. The UCC at the beginning of 20x0 was $50,000 (Class 1 - 4%) . In 20x1 the rental income before CCA was $1,000. Joanne chose to expense the allowable CCA on her rental property both years. Which of the following statements is true?
A) Joanne has a net rental loss in 20x1 of $920.
B) Joanne has net rental income in 20x1 of $1,000.
C) Joanne has net rental income in 20x1 of $0.
D) Joanne has net rental income in 20x0 of $3,000.
Correct Answer:
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