# Creating an asset for CCA on T776

**URL:** <https://www.protaxcommunity.com/t/creating-an-asset-for-cca-on-t776/8468>\
**Category:** T1\
**Created:** [April 23, 2024, 1:26am UTC](https://www.protaxcommunity.com/t/creating-an-asset-for-cca-on-t776/8468 "2024-04-23T01:26:02Z")\
**Posts on this page:** 5\
**Page:** 1

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**Author:** ![dbush](https://avatars.discourse-cdn.com/v4/letter/d/8797f3/32.png) [@dbush](https://www.protaxcommunity.com/u/dbush)\
**Post date:** [April 23, 2024, 1:26am UTC](https://www.protaxcommunity.com/t/creating-an-asset-for-cca-on-t776/8468/1 "2024-04-23T01:26:02Z")

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Oddity regarding creating an asset for CCA on a T776.

created the T776 for a couple (spouses) each with 50% partnership in the rental.  
T776 automatically created and populated in the 2nd spouse’s return when I created it.

When I created the asset to allow for CCA depreciation, it did not populate in the 2nd spouse’s return.

Is there a reason Taxcycle would not automatically create the asset in the 2nd spouse’s return?

Is there a way to tell Taxcycle to automatical populate the partner’s return the same it it does the T776?

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**Author:** ![shaun](https://avatars.discourse-cdn.com/v4/letter/s/f07891/32.png) [@shaun](https://www.protaxcommunity.com/u/shaun)\
**Post date:** [April 23, 2024, 1:38am UTC](https://www.protaxcommunity.com/t/creating-an-asset-for-cca-on-t776/8468/2 "2024-04-23T01:38:55Z")

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I found out that TC CCA doesn’t automatically do the split on the asset in a partnership. You have to calculate the split and manually enter the asset amount and class in each taxpayers profile. It is a pain in the rear to do this way especially when clients have 5-6 rental properties and various other assets in each property.

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**Author:** ![snoplowguy](https://sea2.discourse-cdn.com/flex016/user_avatar/www.protaxcommunity.com/snoplowguy/32/2535_2.png) [@snoplowguy](https://www.protaxcommunity.com/u/snoplowguy)\
**Post date:** [April 23, 2024, 1:42am UTC](https://www.protaxcommunity.com/t/creating-an-asset-for-cca-on-t776/8468/3 "2024-04-23T01:42:57Z")

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It may have to do with whether you are setting the file up as a “partnership” or “co-ownership”. The software acts differently with the fixed assets depending on which relationship you indicate on the T776.

I have never had to set the assets up separately.

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**Author:** ![jimt](https://sea2.discourse-cdn.com/flex016/user_avatar/www.protaxcommunity.com/jimt/32/2531_2.png) [@jimt](https://www.protaxcommunity.com/u/jimt)\
**Post date:** [April 23, 2024, 1:58am UTC](https://www.protaxcommunity.com/t/creating-an-asset-for-cca-on-t776/8468/4 "2024-04-23T01:58:19Z")

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I suspect the problem is that your setup for the 776 is as a co-ownership as opposed to a partnership. In a co-ownership each co-owner enters their own portion of the capital costs not the total. Each co-owner could chose to claim different amounts of cca. When it is setup as co-owners and you enter the total costs on each spouse to will double the CCA claim.

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**Author:** ![dbush](https://avatars.discourse-cdn.com/v4/letter/d/8797f3/32.png) [@dbush](https://www.protaxcommunity.com/u/dbush)\
**Post date:** [April 23, 2024, 2:25am UTC](https://www.protaxcommunity.com/t/creating-an-asset-for-cca-on-t776/8468/5 "2024-04-23T02:25:00Z")

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Co-owner vs partnership.

I figured it would be a button that needed to be changed. Funny, I never saw that selection before. Been doing it the hard way for years.