I bought an iMac that is sitting at home but I use it quite heavily for accounting, note taking, doing taxes, etc that's business related.
Do I add it as CCA but only write down 50% as the purchase price? Or do I put down the full price? Or is there another solution?
Thanks for your help
Claim the cost of addition as the representative value for your business use. If 50% is applicable, add the addition at 50% of the actual cost. Then claim the full CCA allowed on the balance going forward.
Claim the cost of addition as the representative value for your business use. If 50% is applicable, add the addition at 50% of the actual cost. Then claim the full CCA allowed on the balance going forward.
@TurboTaxTerry I’m wondering the same thing with my cell phone that I purchased as it is used roughly 25% for business. I bought it for $1000 so I think I should claim it as CCA and not an expense. What do you think? Claim it as CCA with a value of $250 or as an expense of $250? OR do I enter it as CCA with the full value of $1000 and then only claim 25% of the CCA value? (Although I don’t see an option to do this is TurboTax)
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