Hello,
I have been claiming employment expenses for business use for a 2008 Honda (my employer requires me to use my car for work). This year I bought a new car in October.
My accountant showed me how to calculate vehicle expenses and CCA for more than one vehicle (normally you fill in more than on T777 form). TurboTax appears to only allow me to fill in one T777 form. How do I calculate vehicle expenses and CCA for two vehicles in one year?
Yes, there is a way to enter 2 vehicles in the same year in TurboTax.
Here is a great FAQ to show you how to claim 2 vehicles under CCA & vehicle expenses in the same year.
Can this link be updated - it produces an error.
What if I have one owned vehicle that I claim expenses and CCA for and then purchase a new vehicle under a lease - how do i report that in TurboTax? Thank you!
@sam65mair Are you using TurboTax CD/Download or TurboTax Online?