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New Member
posted Mar 12, 2022 11:38:47 AM

I have more CCA entries to add, but the options to add is not available. Is the a limit on the number of CCA entries that can be added?

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1 Replies
Level 3
Mar 14, 2022 10:15:43 AM

If you do not have enough space available for all your additions, you may have to lump some of them together and a total in each class. If you have 4 purchases of equipment that belong in Class 8, add them together and enter the total sum as one entry in this class.

 

As a result, there is no limit to the classes. You can add as much as a capital asset to a related class if you have them in the related tax return term.  As per CRA, depreciable properties are usually grouped into classes. To claim CCA, you should know about the classes. Each of these classes has a specific percentage you can claim each year as your capital cost allowance based upon the ordinary lifespan of the asset. Therefore, you should know which class you will put your capital assets in.

Please, make sure to keep a detailed list of what you included in the combined amounts should the Canada Revenue Agency (CRA) request this at a later date.

For more information, please see TurboTax article on Common Depreciable Property Classes to learn more about classes.

 

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