topic I was told that I can claim the CCA for my Solar panels against all Income and not necessarily only against the Solar Income. I have earned $300 but paid $30,000 for it. in Getting started https://turbotax.community.intuit.ca/community/getting-started/discussion/i-was-told-that-i-can-claim-the-cca-for-my-solar-panels-against-all-income-and-not-necessarily-only/01/908276#M5958 <P>I was told that I can claim the CCA for my Solar panels against all Income and not necessarily only against the Solar Income. So If I have only earned $300 in the year I installed the solar panels and paid $30,000 for the panel installation, how much can I claim for CCA? It seems weird that I have $300 Income and $15000 deduction, or does this create a Net Loss which can be transferred to future years?<BR /></P> Wed, 30 Oct 2019 13:42:58 GMT nicdebruyn 2019-10-30T13:42:58Z I was told that I can claim the CCA for my Solar panels against all Income and not necessarily only against the Solar Income. I have earned $300 but paid $30,000 for it. https://turbotax.community.intuit.ca/community/getting-started/discussion/i-was-told-that-i-can-claim-the-cca-for-my-solar-panels-against-all-income-and-not-necessarily-only/01/908276#M5958 <P>I was told that I can claim the CCA for my Solar panels against all Income and not necessarily only against the Solar Income. So If I have only earned $300 in the year I installed the solar panels and paid $30,000 for the panel installation, how much can I claim for CCA? It seems weird that I have $300 Income and $15000 deduction, or does this create a Net Loss which can be transferred to future years?<BR /></P> Wed, 30 Oct 2019 13:42:58 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/i-was-told-that-i-can-claim-the-cca-for-my-solar-panels-against-all-income-and-not-necessarily-only/01/908276#M5958 nicdebruyn 2019-10-30T13:42:58Z Do you use these solar panels just for business or do you... https://turbotax.community.intuit.ca/community/getting-started/discussion/do-you-use-these-solar-panels-just-for-business-or-do-you/01/908277#M5959 Do you use these solar panels just for business or do you get personal use from them (i.e. they are on your home)? Is your other income business income? There are limits on claiming CCA on salary &amp; commission income. Wed, 30 Oct 2019 13:42:59 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/do-you-use-these-solar-panels-just-for-business-or-do-you/01/908277#M5959 TurboTaxSusan 2019-10-30T13:42:59Z I do no not use the panels for myself I sell the electric... https://turbotax.community.intuit.ca/community/getting-started/discussion/i-do-no-not-use-the-panels-for-myself-i-sell-the-electric/01/908278#M5960 I do no not use the panels for myself I sell the electric production directly to the local Hydro company. I have no other businesses, have a full time job and work from home. The panels are fixed to my roof Wed, 30 Oct 2019 13:43:00 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/i-do-no-not-use-the-panels-for-myself-i-sell-the-electric/01/908278#M5960 nicdebruyn 2019-10-30T13:43:00Z Except for certain circumstances, the CCA is limited to h... https://turbotax.community.intuit.ca/community/getting-started/discussion/except-for-certain-circumstances-the-cca-is-limited-to-h/01/908279#M5961 <P>Except for certain circumstances, the CCA is limited to how much is needed to reduce your income from the panels to zero.&nbsp; Please refer to the following link for more information:</P><P> <A href="https://www.canada.ca/en/revenue-agency/services/tax/businesses/other-topics-businesses/ontario-s-fit-microfit-programs.html#a7" rel="nofollow" target="_blank">https://www.canada.ca/en/revenue-agency/services/tax/businesses/other-topics-businesses/ontario-s-fi...</A> <BR /> </P> Wed, 30 Oct 2019 13:43:02 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/except-for-certain-circumstances-the-cca-is-limited-to-h/01/908279#M5961 TurboTaxJeffrey 2019-10-30T13:43:02Z Great answer . Thank you. So if I deduct 50% cca and only... https://turbotax.community.intuit.ca/community/getting-started/discussion/great-answer-thank-you-so-if-i-deduct-50-cca-and-only/01/908280#M5962 Great answer . Thank you. So if I deduct 50% cca and only made 300 then my income is zero. Is the loss created by the cca carried forward to future years or so I loose that deduction capacity? Wed, 30 Oct 2019 13:43:03 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/great-answer-thank-you-so-if-i-deduct-50-cca-and-only/01/908280#M5962 nicdebruyn 2019-10-30T13:43:03Z The cca rate is the maximum that can be claimed.  So if y... https://turbotax.community.intuit.ca/community/getting-started/discussion/the-cca-rate-is-the-maximum-that-can-be-claimed-so-if-y/01/908281#M5963 The cca rate is the maximum that can be claimed.&nbsp;&nbsp;So if your panels were $10,000 and the CCA max was $5,000 but you only had a profit of $300, then you would use $300 CCA and the undepreciated balance of $9700 would carry forward to the following year, at which point you could use a maximum of 50% of $9700. Wed, 30 Oct 2019 13:43:05 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/the-cca-rate-is-the-maximum-that-can-be-claimed-so-if-y/01/908281#M5963 TurboTaxJeffrey 2019-10-30T13:43:05Z Whow thanks for the clarity this was a great answer https://turbotax.community.intuit.ca/community/getting-started/discussion/whow-thanks-for-the-clarity-this-was-a-great-answer/01/908282#M5964 Whow thanks for the clarity this was a great answer Wed, 30 Oct 2019 13:43:06 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/whow-thanks-for-the-clarity-this-was-a-great-answer/01/908282#M5964 nicdebruyn 2019-10-30T13:43:06Z I akso work from home for my full time employer and i was... https://turbotax.community.intuit.ca/community/getting-started/discussion/i-akso-work-from-home-for-my-full-time-employer-and-i-was/01/908283#M5965 I akso work from home for my full time employer and i was wondering if i could deduct the same proportional amount say 14% of office space for home renovat ui ons as wekl...or dies it have to be specifix to the iffice itself? Wed, 30 Oct 2019 13:43:08 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/i-akso-work-from-home-for-my-full-time-employer-and-i-was/01/908283#M5965 nicdebruyn 2019-10-30T13:43:08Z If my net revenue is 0, do I need to report anything? https://turbotax.community.intuit.ca/community/getting-started/discussion/if-my-net-revenue-is-0-do-i-need-to-report-anything/01/908284#M5966 If my net revenue is 0, do I need to report anything? Wed, 30 Oct 2019 13:43:09 GMT https://turbotax.community.intuit.ca/community/getting-started/discussion/if-my-net-revenue-is-0-do-i-need-to-report-anything/01/908284#M5966 km21 2019-10-30T13:43:09Z
This XML file does not appear to have any style information associated with it. The document tree is shown below.
<rss xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:taxo="http://purl.org/rss/1.0/modules/taxonomy/" version="2.0">
<channel>
<title>
topic I was told that I can claim the CCA for my Solar panels against all Income and not necessarily only against the Solar Income. I have earned $300 but paid $30,000 for it. in Getting started
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/i-was-told-that-i-can-claim-the-cca-for-my-solar-panels-against-all-income-and-not-necessarily-only/01/908276#M5958
</link>
<description>
<P>I was told that I can claim the CCA for my Solar panels against all Income and not necessarily only against the Solar Income. So If I have only earned $300 in the year I installed the solar panels and paid $30,000 for the panel installation, how much can I claim for CCA? It seems weird that I have $300 Income and $15000 deduction, or does this create a Net Loss which can be transferred to future years?<BR /></P>
</description>
<pubDate>Wed, 30 Oct 2019 13:42:58 GMT</pubDate>
<dc:creator>nicdebruyn</dc:creator>
<dc:date>2019-10-30T13:42:58Z</dc:date>
<item>
<title>
I was told that I can claim the CCA for my Solar panels against all Income and not necessarily only against the Solar Income. I have earned $300 but paid $30,000 for it.
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/i-was-told-that-i-can-claim-the-cca-for-my-solar-panels-against-all-income-and-not-necessarily-only/01/908276#M5958
</link>
<description>
<P>I was told that I can claim the CCA for my Solar panels against all Income and not necessarily only against the Solar Income. So If I have only earned $300 in the year I installed the solar panels and paid $30,000 for the panel installation, how much can I claim for CCA? It seems weird that I have $300 Income and $15000 deduction, or does this create a Net Loss which can be transferred to future years?<BR /></P>
</description>
<pubDate>Wed, 30 Oct 2019 13:42:58 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/i-was-told-that-i-can-claim-the-cca-for-my-solar-panels-against-all-income-and-not-necessarily-only/01/908276#M5958
</guid>
<dc:creator>nicdebruyn</dc:creator>
<dc:date>2019-10-30T13:42:58Z</dc:date>
</item>
<item>
<title>
Do you use these solar panels just for business or do you...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/do-you-use-these-solar-panels-just-for-business-or-do-you/01/908277#M5959
</link>
<description>
Do you use these solar panels just for business or do you get personal use from them (i.e. they are on your home)? Is your other income business income? There are limits on claiming CCA on salary &amp; commission income.
</description>
<pubDate>Wed, 30 Oct 2019 13:42:59 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/do-you-use-these-solar-panels-just-for-business-or-do-you/01/908277#M5959
</guid>
<dc:creator>TurboTaxSusan</dc:creator>
<dc:date>2019-10-30T13:42:59Z</dc:date>
</item>
<item>
<title>
I do no not use the panels for myself I sell the electric...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/i-do-no-not-use-the-panels-for-myself-i-sell-the-electric/01/908278#M5960
</link>
<description>
I do no not use the panels for myself I sell the electric production directly to the local Hydro company. I have no other businesses, have a full time job and work from home. The panels are fixed to my roof
</description>
<pubDate>Wed, 30 Oct 2019 13:43:00 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/i-do-no-not-use-the-panels-for-myself-i-sell-the-electric/01/908278#M5960
</guid>
<dc:creator>nicdebruyn</dc:creator>
<dc:date>2019-10-30T13:43:00Z</dc:date>
</item>
<item>
<title>
Except for certain circumstances, the CCA is limited to h...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/except-for-certain-circumstances-the-cca-is-limited-to-h/01/908279#M5961
</link>
<description>
<P>Except for certain circumstances, the CCA is limited to how much is needed to reduce your income from the panels to zero.&nbsp; Please refer to the following link for more information:</P><P> <A href="https://www.canada.ca/en/revenue-agency/services/tax/businesses/other-topics-businesses/ontario-s-fit-microfit-programs.html#a7" rel="nofollow" target="_blank">https://www.canada.ca/en/revenue-agency/services/tax/businesses/other-topics-businesses/ontario-s-fi...</A> <BR /> </P>
</description>
<pubDate>Wed, 30 Oct 2019 13:43:02 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/except-for-certain-circumstances-the-cca-is-limited-to-h/01/908279#M5961
</guid>
<dc:creator>TurboTaxJeffrey</dc:creator>
<dc:date>2019-10-30T13:43:02Z</dc:date>
</item>
<item>
<title>
Great answer . Thank you. So if I deduct 50% cca and only...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/great-answer-thank-you-so-if-i-deduct-50-cca-and-only/01/908280#M5962
</link>
<description>
Great answer . Thank you. So if I deduct 50% cca and only made 300 then my income is zero. Is the loss created by the cca carried forward to future years or so I loose that deduction capacity?
</description>
<pubDate>Wed, 30 Oct 2019 13:43:03 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/great-answer-thank-you-so-if-i-deduct-50-cca-and-only/01/908280#M5962
</guid>
<dc:creator>nicdebruyn</dc:creator>
<dc:date>2019-10-30T13:43:03Z</dc:date>
</item>
<item>
<title>
The cca rate is the maximum that can be claimed.  So if y...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/the-cca-rate-is-the-maximum-that-can-be-claimed-so-if-y/01/908281#M5963
</link>
<description>
The cca rate is the maximum that can be claimed.&nbsp;&nbsp;So if your panels were $10,000 and the CCA max was $5,000 but you only had a profit of $300, then you would use $300 CCA and the undepreciated balance of $9700 would carry forward to the following year, at which point you could use a maximum of 50% of $9700.
</description>
<pubDate>Wed, 30 Oct 2019 13:43:05 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/the-cca-rate-is-the-maximum-that-can-be-claimed-so-if-y/01/908281#M5963
</guid>
<dc:creator>TurboTaxJeffrey</dc:creator>
<dc:date>2019-10-30T13:43:05Z</dc:date>
</item>
<item>
<title>
Whow thanks for the clarity this was a great answer
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/whow-thanks-for-the-clarity-this-was-a-great-answer/01/908282#M5964
</link>
<description>
Whow thanks for the clarity this was a great answer
</description>
<pubDate>Wed, 30 Oct 2019 13:43:06 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/whow-thanks-for-the-clarity-this-was-a-great-answer/01/908282#M5964
</guid>
<dc:creator>nicdebruyn</dc:creator>
<dc:date>2019-10-30T13:43:06Z</dc:date>
</item>
<item>
<title>
I akso work from home for my full time employer and i was...
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/i-akso-work-from-home-for-my-full-time-employer-and-i-was/01/908283#M5965
</link>
<description>
I akso work from home for my full time employer and i was wondering if i could deduct the same proportional amount say 14% of office space for home renovat ui ons as wekl...or dies it have to be specifix to the iffice itself?
</description>
<pubDate>Wed, 30 Oct 2019 13:43:08 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/i-akso-work-from-home-for-my-full-time-employer-and-i-was/01/908283#M5965
</guid>
<dc:creator>nicdebruyn</dc:creator>
<dc:date>2019-10-30T13:43:08Z</dc:date>
</item>
<item>
<title>
If my net revenue is 0, do I need to report anything?
</title>
<link>
https://turbotax.community.intuit.ca/community/getting-started/discussion/if-my-net-revenue-is-0-do-i-need-to-report-anything/01/908284#M5966
</link>
<description>
If my net revenue is 0, do I need to report anything?
</description>
<pubDate>Wed, 30 Oct 2019 13:43:09 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/getting-started/discussion/if-my-net-revenue-is-0-do-i-need-to-report-anything/01/908284#M5966
</guid>
<dc:creator>km21</dc:creator>
<dc:date>2019-10-30T13:43:09Z</dc:date>
</item>
</channel>
</rss>