Hi there,
I'm confused on the UCC calculation with respect to the CCA from the previous year. It says online that the UCC is the following:
The amounts left on your assets for further depreciation.
If this is your first year of claiming Capital Cost Allowance on an asset, you won’t need to enter any amount.
Your undepreciated capital cost (UCC) is your running balance for each capital cost allowance (CCA) class from last year.
You can find this info on last year's return, or, if you transfered your TurboTax return from last year into this year's return, this amount will already be filled in for you.
So in 2018, I bought a new car at the beginning of the year for $22,000. I used my car 42% of the time for work purposes. The rest of the time for personal purposes. On my 2018 return i claimed the class 10 with a 30% rate.
Turbo tax said that my CCA for the 2018 was about $1600.
For my 2019 tax return, i'm confused on what to enter in for the UCC? Can you help me?
