When you sell your car, you'll enter the details of the sale (date, sale price, etc.) into TurboTax and the software will do the rest. If you purchase a new car for your self-employment, TurboTax will calculate the proper CCA for the addition as well once you enter the purchase details.
If you stop using your car for self-employment, that date is also important as your self-employment end date is required for your final year of business.
If you're considering trading in your old car for another, be sure to note the value you're given for the trade-in as it will be needed for income tax purposes.
Sign In
Canada (English)
EN
