Do I need to include the cost of truck contributed into the business as capital contributions if I claim CCA on it

kowkanata · ‎October 30, 2019

I was using my truck for business (100%) during 2018, and I'm planning to claim CCA on its FMW (fair market value). Would I still include the cost of truck as my capital contributions in the "Details about your equity" section of T2125? Please advise

TurboTaxKim · ‎October 30, 2019

You can choose to enter the details of any contributions you made to your business in Section 9 of the T2125, but it is not mandatory and will not prevent you from NetFiling your return.

This will also not make any difference to your tax return, this is more or less for your own record keeping.

Do I need to include the cost of truck contributed into the business as capital contributions if I claim CCA on it

Self-employed