How do I claim CCA on a new vehicle?

TurboTax Support — Tue, 27 Jul 2021 11:21:10 GMT

https://youtu.be/dLlcX4LDQYI To claim Capital Cost Allowance (CCA), on a vehicle, you must first determine if you meet the required eligibility for either a commissioned or a salaried employee, or as an employed musician. While you may not claim the total cost of property – such as a vehicle or instrument used to earn your income – you may deduct a percentage of that property’s costs. How to enter CCA for new vehicles: Instructions for TurboTax Online users Under the Income section of the Personal Tax Profile tab, select Self Employment, then fill out your Self Employment Profile. Select Continue, then fill out the information for your T2125 Business Statement, and select Continue again. You will be brought to the Motor Vehicle Expenses Summary page. Select Add a Vehicle for Business Use. Fill out applicable information on the form provided, then select Done with Auto You will be re-directed to the Motor Vehicle Expenses Summary page. Select Done with Vehicles. Instructions for TurboTax CD/download users Open the Employment Expenses profile, check the box for Motor Vehicle Expenses, then select Continue Fill out the section on Employment Related Driving, then select Continue Fill out the section for Other Automobile Expenses, then select Continue In the Sales Tax on your Aut...

topic How do I claim CCA on a new vehicle? in Other tax topics

How do I claim CCA on a new vehicle?