CCA for Class 12. Why CCA for small tools at the end of the year shows the 50% amount left? It should be 100% deducted
If this is the first year that you have claimed these tools, you have just been introduced to the "half year rule" You only get 50% of the CCA the first year.
My other concern is that class 12 is not commonly used for small tools. If any individual tool cost more than $500 it should be in class 8. Generally speaking, tools that cost less than $200 are not depreciated at all. If you have a bunch of small tools, it becomes difficult to adjust the depreciation when tools wear out and are written off.
If this is the first year that you have claimed these tools, you have just been introduced to the "half year rule" You only get 50% of the CCA the first year.
My other concern is that class 12 is not commonly used for small tools. If any individual tool cost more than $500 it should be in class 8. Generally speaking, tools that cost less than $200 are not depreciated at all. If you have a bunch of small tools, it becomes difficult to adjust the depreciation when tools wear out and are written off.
John JS
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