Returning Member


Hi, just to clarify, you don't have to deduct the $3500 anywhere on the T2, only the $1 in "proceeds from disposition" under CCA? Does it still have to be entered in your books? This will cause a discrepancy?


I had to sell part of an asset (consisted of several parts that were sellable on their own). I had a loss of $63 (difference between $ sold for and book value). I recorded the proceeds of $690 in "proceeds of disposition" on my corporate taxes but I'm not sure where to enter the deduction of the book value from the asset itself (as it was recorded in quickbooks).