Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Find CRA error Netfile information >> HERE!
Brian K2
Returning Member

Self Employed entering vehicles in class 10.1

I bought a vehicle about 10 years ago for around $80k & entered it for $33,600 in class 10.1 which was the maximum at the time. Its undepreciated capital cost is now $2352. Just sold it for $44k. Do I enter $2352 as the disposition?

I at the same time bought a new car for $80k. Am I correct that I enter the cost as $34k plus GST & PST which is $38,080?

In turbo tax I have $38,080 in column 12 (remaining UCC) & have $17,863 in column 15 (adjustment for half year). For some reason column16 (Base amount for CCA) shows as zero & it should be column 12-14 +15.

 

Am I entering something in the wrong place or is there a software glitch?

2 Replies

Self Employed entering vehicles in class 10.1

Please contact our phone support at 1-888-829-8608 as they will be better able to assist you. They can look at your return with you to see what is happening. 

galtj
New Member

Self Employed entering vehicles in class 10.1

  • I am having the same issue this year when entering a car in class 10.1 and disposing of a previous. Same scenario with the proceeds of disposition. I know CRA wants each auto on a separate row but when I select Row 2 it still goes on row 1. My end result is $283 CCA and $0  in UCC to carry forward? (Using the max $37000+ tax as cost, remaing UCC on previous vehicle $2200, proceeds of disposition $7500). I did not select DIEP or AII when entering the new one.  As well was not used for old vehicle that was purchased in 2018.