Calculating CCA for vehicle bought in 2015

[kevan82]

Hi folks

I'm filing my 2019 return - a portion of my income is from self employment and I use my vehicle for it. I bought it in 2015 for over 30K (which puts it into Class 10.1 if I'm not mistaken). I'm paying on a loan for the vehicle every month.

I have never filed any kind write off for the cost of the vehicle itself before - so I'm confused as to how to properly fill out the "Capital Cost Allowance Chart for Vehicle" section of my return.

I have filled out the following fields:
UCC at beginning of the year: 10,147.00 (estimated value of my vehicle now in 2019)
Date Vehicle acquired: 11/08/2015 (the date I signed my loan)
The next three fields I have left blank.

Is this correct? I'm not receiving any errors - but I have read that if I haven't claimed this in the past that I should not be entering a UCC amount, however when I leave that field blank, it returns an error and doesn't work.

[TurboTaxHeba]

If you have never used this vehicle before for business income, and this is the first year to use it for business, you will start the calculation with the FMV in 2019 as addition > take half of the CCA for the first year and calculate the UCC for the next year. You can also use the same process if you have have used this vehicle for this business but never claimed UCC before and decided to add this for this year. 

If you have used it before for this business, but never claimed CCA for it, and want to use UCC for this year, then you will have to adjust prior year's returns and start the addition of the vehicle on the return when you started using the vehicle. 

It's a class10.1 if The FMV is still over 30k in 2019, so you can claim $30k + tax as "addition cost".

If the FMV is below $30k, you can claim it as a Class 10.

I hope this was helpful