How to determine UCC?

[Danno1708]

This is my first time filling with vehicle expense. I bought at 22 December 2022 but I start to Dashing and UberEat delivery on July 2023. So when I input the date I acquired the car which is 22/12/2022, TurboTax ask for UCC which I don’t know how to calculate, I did ask expert about that she ask me input 01/01/2023 as the date of acquired, TurboTax changed to Total cost of the vehicle before taxes. So right now I am kinda conflict what to input

One is 22/12/2022 but I dont know the UCC of beginning of 2023

Two is 01/01/2023 to put total cost of the vehicle

[TurboTaxSusan · Accepted solution]

If this is the first year that you are using the car for self-employment use, then you would not have a UCC. You would enter the car as an addition and the cost of the car would be the fair market value at the time you started using it for business.

[Danno1708]

Then should I put I acquire the car at 01/01/2023

to put total price of the car at that time?

[TurboTaxSusan]

Yes.