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New Member
posted Jan 30, 2021 11:19:30 AM

I am being asked to enter in my UCC at the beginning of the year. What is this? How do I get this information?

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1 Replies
Level 3
Feb 18, 2021 6:17:48 PM

Thank you for using TurboTax. 

 

UCC is undepreciated capital cost (UCC) which is the balance of the capital cost remaining for further depreciation at any given time. The amount of Cost of Capital Allowance (CCA) you claim each year will lower the UCC of the property.

 

In other words, if you purchased a brand new car for $10,000 in 2019, the beginning UCC for that year is the full price you paid. Next year (2020) the beginning UCC will be 10,000 less CCA  claimed for 2019.