I opened a business this year and purchased an enclosed cargo trailer for storage and transportation of equipment for my shop - how do I claim this on my tax return?

I have no idea where to put the expense of my cargo trailer in my tax return. Do i claim the entire amount or just a certain amount each year?

1810

Moderator

Oct 31, 2019 2:09:38 AM

You can claim CCA on the trailer. Use Class 10 - 30%. This will allow you to claim a small amount of the expense over several years. You’ll see the CCA pages while you are in the Self-Employment section of the interview.

If you have TurboTax Live Assist & Review, here is how to talk to a Tax Expert: https://turbotax.community.intuit.ca/replies/3456106

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I opened a business this year and purchased an enclosed cargo trailer for storage and transportation of equipment for my shop - how do I claim this on my tax return?