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Should I report a portion of the CCA recapture based on the average business use percentage over the life of the vehicle when there was no business mileage in 2017? T2125
Background: I sold my vehicle in 2017 that I have used both professionally (sole proprietor) and personally in the past and did not purchase a replacement vehicle. This resulted in a recapture of CCA in the amount of $X,000 in 2017. I have no business income or expenses to report in 2017 as I elected to discontinue the business in 2017. Given I have no business mileage, there's no percentage being applied to the CCA recapture and subsequently no income to add or tax liability being calculated. T2125
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‎October 30, 2019
4:57 PM