I bought my Vehicle on September 03, 2019, for $45,000.00 and used it fully for work. ( 2019 Hyundai Tucson, All-wheel-drive, Essential Edition, with 45 thousand kilometers to date)
The total balance remaining on the vehicle loan at the beginning of 2021 is $30,998.58.
Based on carfax.ca the Vehicle average value as of today is $ 24,298.00
I never claim Capital Cost Allowance (CCA) for this vehicle before.
I am still using the vehicle for work.
How do I find out what is my undepreciated capital cost (UCC) at the beginning of the year?
How do I input this data in TurboTax ?
Which options below are correct?
Option A
-Class of vehicle 10:30%
-Date vehicle acquired: (01/01/2021)
-Claim AII/ZEV: Yes
-Undepreciated capital cost (UCC) at the beginning of the year: $0.00
-If you purchased the vehicle during the year, enter the total cost before taxes (only claim one vehicle per step; click Enter Another Vehicle if you have more than one vehicle to claim): $ 30,998.58
Option B
-Class of vehicle 10:30%
-Date vehicle acquired: (03/09/2019)
-Claim AII/ZEV: Yes
-Undepreciated capital cost (UCC) at the beginning of the year: $30,998.58
-If you purchased the vehicle during the year, enter the total cost before taxes (only claim one vehicle per step; click Enter Another Vehicle if you have more than one vehicle to claim): $ 0.00
Option C
-Class of vehicle 10:30%
-Date vehicle acquired: (03/09/2019)
-Claim AII/ZEV: Yes
-Undepreciated capital cost (UCC) at the beginning of the year: $24,298.00
-If you purchased the vehicle during the year, enter the total cost before taxes (only claim one vehicle per step; click Enter Another Vehicle if you have more than one vehicle to claim): $ 0.00
