Solved: Where do I enter the value of a car purchased in 2...

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Where do I enter the value of a car purchased in 2016 that was not used for business purposes until 2017

 
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Where do I enter the value of a car purchased in 2016 that was not used for business purposes until 2017

Select the fair market value of the vehicle when you changed the use (used it for business) as the addition cost. 

A vehicle that costs over $30,000 is class 10.1 and is limited to 30,000 plus tax. 

A vehicle that cost less that $30,000 is class 10 so you enter the total cost including taxes. 

This is all done in the auto expense page near the bottom. (CCA or Capital cost allowance)

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Highlighted
New Member

Where do I enter the value of a car purchased in 2016 that was not used for business purposes until 2017

Select the fair market value of the vehicle when you changed the use (used it for business) as the addition cost. 

A vehicle that costs over $30,000 is class 10.1 and is limited to 30,000 plus tax. 

A vehicle that cost less that $30,000 is class 10 so you enter the total cost including taxes. 

This is all done in the auto expense page near the bottom. (CCA or Capital cost allowance)

View solution in original post

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