☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 30, 2019 2:18:08 AM

I am an Ontario resident with a virtual business. Where would show purchases of a new monitor, filing cabinet and office chair?

I also paid insurance for the new monitor, would I claim that also?

0 1 866
1 Best answer
New Member
Oct 30, 2019 2:18:10 AM

These purchases are capital and are expensed in the CCA fixed asset section, They would be a class 8. Monitor would be class 55, the insurance can be added to cost.

1 Replies
New Member
Oct 30, 2019 2:18:10 AM

These purchases are capital and are expensed in the CCA fixed asset section, They would be a class 8. Monitor would be class 55, the insurance can be added to cost.