2488571
If I use my personal item for personal and business purposes is it possible to claim CCA without transferring the property to the business?
If your business is not incorporated, then you don't need to "transfer" anything. You would just need to keep track of your personal vs business use, as you can only deduct expenses that you used for earning your business income.
The Canada Revenue Agency (CRA) may ask for proof that you used your personal asset for business use. For a car, this is easy, as you need to maintain a logbook, but it may be more difficult for other things, like a laptop.
tyousse
New Member
roy-scor-pal
New Member
isabelw123
New Member
BookkeeperBlues
New Member
cyndi-ardiel
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.