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What happens when you check off bought/sold equipment vs CCA claim?
Question is regarding rental property. I purchased new window coverings and washer/dryer. Just want to understand these two ticky boxes
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February 3, 2021
5:48 AM
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Self-employed
Bought/Sold equipment is part of CCA. If you buy an asset, you would enter it as an addition to whatever CCA class it belongs to. That addition would now be used in your CCA calculations.
When you sell an item, that removes it from your CCA claim in future years.
January 15, 2023
4:53 PM