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New Member
posted Aug 17, 2023 3:44:44 PM

I leased my vehicle for the first 4 months of the year, and then bought it out so am now financing it. Can I enter both the lease payments and CCA for the same vehicle?

I am getting an error message from Turbotax that says I can't do both a lease and CCA for the same vehicle

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1 Replies
Returning Member
Apr 30, 2024 9:59:39 AM

Hello,

 

Yes you can!  You can refer to the following for more info:

 

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/business-expenses/motor-vehicle-expenses/deductible-expenses/motor-vehicle-leasing-costs.html