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why isn't the refund/amount owing changing after putting in all info except T4?

Hello,

 

I am using the online version of small business and home. I am currently waiting on my T4 from my primary job. But I have entered my RRSP info, and all the drive (food delivery) stuff in the small business section, my entire business info has been entered... but the return (or amount I would owe), hasn't changed at all in the top left corner like it would if I bought the Cd and used it. Why isn't it changing?

1 Best answer

Accepted Solutions

why isn't the refund/amount owing changing after putting in all info except T4?

If you are not claiming CCA and you don’t have any additions or dispositions, you don’t need to put in the CCA information. And if the CCA isn’t benefiting you, there’s no need to claim it this year.

 

If you don’t claim CCA this year, then the amount remains in your UCC balance. Next year, you’ll only be able to take CCA for 2020, but it will be based on the current UCC balance. If you take CCA this year, your UCC balance will go down and next year, your CCA will be calculated using the new, lower UCC balance.

 

As to why it is lowering your refund, there’s a possibility that the CCA is effecting your eligibility for the Canada Workers Benefit (line 45300) or some other credit that’s based on income. You can make a copy of your return without the CCA on the My Returns>View All Returns page. Then you can go into the Detailed Summary of both copies and take a look at what has changed. You can see the Detailed Summary by clicking on the arrow under your balance/refund in the top right of your return. Then click on “View Detailed Tax Summary”. If you are preparing your return with a spouse/partner, there are links at the top of the page to switch between the two.

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9 Replies

why isn't the refund/amount owing changing after putting in all info except T4?

Try clearing your cache or using another browser. https://turbotax.community.intuit.ca/community/tax-topics/help/how-do-i-clear-my-cache-browsing-hist...

 

If you are still unable to resolve this issue, please contact our phone support as they will be better able to assist you: This form will help you get the right number: https://support.turbotax.intuit.ca/contact/

why isn't the refund/amount owing changing after putting in all info except T4?

I actually played around with it and learned it was cuz I was claiming the CCA. But now I have two new ?'s because of that! First, if I claim it I then lose some of my refund, so obviously I don't wanna claim it if I don't have to. But I then noticed when I chose not to claim it the refund went up to almost 500$. However, I then notice if I don't have anything in there at all... meaning the following fields left blank: Capital Cost Allowance Chart for Vehicle: Class #,Date vehicle acquired: (dd/mm/yyyy), "claim all" If you purchased the vehicle during the year, enter the total cost before taxes, all of the stuff under the chart was put to 0 or not put in.. then my refund went up!! WHY DID IT GO UP??  I WASN'T claiming the CCA, I entered all the info for it and thought it would be easy to keep track of it doing that but it then reduced my refund, How come it does a reduction if i am not claiming? It shouldn't affect the number unless I claim it I thought? So now I need to know why it reduces the number and IF I HAVE TO ENTER THAT INFO to do the taxes? If I omit it, can I get in trouble with the CRA? If I omit it can I use it next year if I owe and wanna claim CCA?



why isn't the refund/amount owing changing after putting in all info except T4?

I am sorry you are having issues, as TurboTaxSusan mentioned before, please give our support team a call, they will be able to assist you as they can do a screen share with you, if needed.

why isn't the refund/amount owing changing after putting in all info except T4?

unfortunately I need a tax expert to find out the answer. the support line was no use. 

why isn't the refund/amount owing changing after putting in all info except T4?

What are your total kilometres, and your business kilometres? What is your starting UCC balance? What class is the car in, and do you have more than one car? Did you just buy the vehicle this year, and if so, what was the total cost and when did you buy it? How much CCA is TurboTax calculating? When you added the vehicle did you use the “Add a Vehicle For Business Use” button or the “Add a Vehicle For [Your Name]”.

 

If you are not claiming CCA and you don’t have any additions or dispositions, you don’t need to put in the CCA information.

 

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why isn't the refund/amount owing changing after putting in all info except T4?

Vehicle bought brand new Feb 8/2019 its a truck, 10.1 class. costed before taxes, $50,224.08.  CCA for the year is $2,330.08. Total business km's was 10,920.  total km's was 23,831. Business use is 45.8227%. I selected  "Add vehicle for business use" as it is just me and nobody else doing food deliveries with it. So if i am not claiming CCA do I NEED to enter the info in the CCA chart? WHY does it make my refund become LESS if I enter the info? is it because its an asset? I don't understand why they deduct $ from my refund when its not being claimed? Id like to obviously get the biggest return possible, but if I don't enter the CCA chart info I don't wanna get in trouble with CRA for it? AS well, next year I will maybe wanna claim CCA? Is it possible to claim 2019 and 2020 CCA when I do next years if I owe next year?

why isn't the refund/amount owing changing after putting in all info except T4?

If you are not claiming CCA and you don’t have any additions or dispositions, you don’t need to put in the CCA information. And if the CCA isn’t benefiting you, there’s no need to claim it this year.

 

If you don’t claim CCA this year, then the amount remains in your UCC balance. Next year, you’ll only be able to take CCA for 2020, but it will be based on the current UCC balance. If you take CCA this year, your UCC balance will go down and next year, your CCA will be calculated using the new, lower UCC balance.

 

As to why it is lowering your refund, there’s a possibility that the CCA is effecting your eligibility for the Canada Workers Benefit (line 45300) or some other credit that’s based on income. You can make a copy of your return without the CCA on the My Returns>View All Returns page. Then you can go into the Detailed Summary of both copies and take a look at what has changed. You can see the Detailed Summary by clicking on the arrow under your balance/refund in the top right of your return. Then click on “View Detailed Tax Summary”. If you are preparing your return with a spouse/partner, there are links at the top of the page to switch between the two.

why isn't the refund/amount owing changing after putting in all info except T4?

Hi Susan,

 

I actually just noticed I could make the "CCA FOR YEAR"  field 0. So now I did that and it matches what the CD version shows. I will probably file using the CD one since I did go out and spend 120$ on it after thinking the online version wasn't working properly. But next year I will probably have a hard time with the CCA on the cd if I end up owing. But so far this year I get a return. Just waiting on my main jobs T4 which I still think will have me getting a refund. But as for the CD version, I don't need to enter the truck info in the "fixed assets" section then if I am not claiming CCA?? That section seems to affect the refund amount the same as the chart for the "CCA for vehicles" does online (where I switched it to the 0), I think the refund was less cuz it had CCA of 2,330.08 for the year in the field? but now with it switched to 0 it matches the CD. I will probably be bugging you for help next year. hmm if I don't file online this year with the online version, will it still be easy to calculate the CCA next year online if I need it? if so I may not bother with the CD next year. I wish the CD did the math like it does online and saves it like it does online. I just hope if I don't file online it somehow will be easy to calculate it next year or somehow the program will still save that info? I regret running out and getting the CD now the online version is easier!

why isn't the refund/amount owing changing after putting in all info except T4?

If you are not claiming CCA and you don’t have any additions or dispositions, you don’t need to put in the CCA information. It doesn’t matter if you are using the Online or the CD/Download version. It’s nice to have on your return for your own reference, and for continuity’s sake, but it’s not strictly required.

 

If you use TurboTax CD/Download this year, you can transfer the information from your return into TurboTax Online next year. It should carry forward your CCA balances when you do this, if you have entered the information.