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chrisdtt
New Member

I need to find out the undepreciated Capital Cost for my car but I purchased in in 2019, so shouldn't I leave that section in the TurboTax form blank?

 
2 Replies

I need to find out the undepreciated Capital Cost for my car but I purchased in in 2019, so shouldn't I leave that section in the TurboTax form blank?

Thanks for your question. If you have claimed Capital Cost Allowance (CCA) in the past on your vehicle used for Business or Employment, you will have a number left at the end of the year known as Undepreciated Capital Cost or UCC. 

If this is your first time claiming CCA on that vehicle, you will not have a UCC amount. UCC is the balance of the capital cost left for further depreciation at any given time. 

For example, if you claimed the full 30% CCA on a $10,000 vehicle last year, your UCC would be $7,000 

( $10,000 - $3,000 = $7,000 UCC)

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...

chrisdtt
New Member

I need to find out the undepreciated Capital Cost for my car but I purchased in in 2019, so shouldn't I leave that section in the TurboTax form blank?

I bought it in 2019 but I forgot to claim it for CCA last year, so it has never been claimed - there is no UCC amount. Do I start the UCC at the purchase price even though I bought it in 2019?