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New Member
posted Jan 26, 2023 6:01:40 AM

Starting a business Feb 1st 2023. Bought supplies Jan 2022, where do I claim these supplies?

I've looked for the answer everywhere and can't find it. I was an employee for 2022 but do I still claim the materials I bought in 2022 or do I still go forward and claim in 2023. All I found was that materials have to claimed in the year they we're bought but my business doesn't officially start till the new year, any help is greatly appreciated!

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1 Replies
Intuit Alumni
Jan 26, 2023 8:22:30 AM

Here is the information you are looking for in our TurboTax article: What You Need to Know About Claiming Start-Up Costs For a New Business in Canada.

 

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