I am wondering if I can take business losses and increase those loses using CCA against other income?
01352
1 Replies
TurboTaxBrenda1
Level 15
Oct 15, 2020 9:08:33 AM
Another aspect to keep in mind is that, unlike some other tax credits, CCA cannot be used to create a loss. No matter how much equipment you have in your business you can only use CCA to bring your net income to $0.