In CCA for a new vehicle, in the section "Is this asset eligible as Designated Immediate Expensing Property (DIEP), the Yes and No are working in reverse?

Moderator

Feb 21, 2024 8:09:08 AM

Can you please send us pictures of exactly what happened and amounts seen as when we tried on our end it seemed to work.

Thank you for choosing TurboTax.

New Member

Feb 23, 2024 11:46:51 AM

Sure, I have attached 4 screenshots.

In Vehicle Expenses, CCA for the Year, after choosing Class 10.1, on the page "Let's Calculate Your Capital Cost Allowance (CCA)", under the question "Is This Asset Eligible As Designated Immediate Expensing Property", if I choose No it gives a CCA of $36,935.25; if I choose Yes, it gives a CCA of $16,620.86. This seems reversed. The higher amount should be for property eligible for immediate expensing. The lower number allows you to expense it over time.

Moderator

Feb 26, 2024 6:52:32 AM

Thank you for the information- can you also let us know which TurboTax software you are using so that we verify the correct one- Download or Online?

New Member

Feb 26, 2024 9:17:41 AM

I am using the online version, for 2023 tax year.

Moderator

Feb 26, 2024 9:23:40 AM

Thank you, this is a known issue and the team is working hard at getting it resolved. We will be back to update as soon as its complete.

Thank you for your patience in this matter.

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In CCA for a new vehicle, in the section "Is this asset eligible as Designated Immediate Expensing Property (DIEP), the Yes and No are working in reverse?