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Sale of depreciable asset in small business income
I run a small business (sole proprietor) and sold a piece of depreciable equipment. Do I include the income from this sale under my business income on T2125, or is this taken care of under the disposition portion of the CCA calculations?
Thanks!
April 18, 2024
7:00 AM
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Filing
If you were taking CCA on the item, then you would enter the sale of it as a disposition.
April 18, 2024
9:54 AM