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How do I claim for pre-paid maintenance?
I purchased a vehicle last year with pre-paid maintenance. I know you can claim maintenance with your vehicle expense but how do I claim prepaid maintenance?
February 4, 2024
5:51 PM
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Self-employed
You would claim the part of the expense you used during the year, and claim the rest when you use it in future years.
February 4, 2024
5:56 PM
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Self-employed
So do I found out how much that maintenance would have been if I didn't have prepaid maintenance and claim that amount?
February 4, 2024
7:12 PM
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Self-employed
The answer to this question would be best asked from the Canada Revenue Agency (CRA) at 1-800-959-8281. They will be able to clarify exactly how they like this to be claimed.
Thank you for choosing TurboTax.
February 5, 2024
5:24 AM