How is capital cost allowance translated to the income statement?
As I understand CCA can be pulled forward from previous years as long as you haven’t used it previously. Is there somewhere in TurboTax that calculates this figure available or do you need to manually add up previous years used / not used? thanks
How is capital cost allowance translated to the income statement?
TurboTax will keep track of this information. If you entered CCA information last year, and transfer that information into this year’s return, then the CCA info will be added to this year’s return.
Please note that you can’t transfer info from TurboTax Online into TurboTax CD/Download.
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