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lindat
New Member

Where do I claim photo equipment purchases from previous years for CCA? I have the home & business Turbo Tax on my computer. It only gives the option to claim for 2017.

I added equipment purchased for 2017 in the CCA section, no problem.  However, it doesn't give me an option to add equipment claimed from previous years.  Instead, it shows that I purchased them in 2017, but I didn't. How do I input equipment purchased from previous years?

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Where do I claim photo equipment purchases from previous years for CCA? I have the home & business Turbo Tax on my computer. It only gives the option to claim for 2017.

If you purchased articles previously, you must enter the UCC amounts for them. In the EasyStep view of the CD/Download version of TurboTax;

  • on the Fixed Assets page, check the box "I have balances (undepreciated capital costs) from previous years which I could calculate CCA". 
  • Continue to the page "T2125 Opening Balances for CCA (Other). 

If you have claimed CCA on these items in the past, enter the Undepreciated Capital Costs for that class. If you have never claimed CCA on these items, enter the Fair Market Value at the time you began using them for business use.