Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Aug 1, 2020 6:52:08 PM

Where should I write off my tools i've aquired for work as a sole proprietor?

0 1 344
1 Replies
Level 15
Aug 31, 2020 12:13:54 PM

Employment expenses are first entered on Canada Revenue Agency (CRA) Form T777 Statement of Employment Expenses. For 2019, the "base amount" used in the calculation of the tool deduction is $1,222 ($1,245 for 2020). No deduction is available unless the cost of tools exceeds this amount. The maximum deduction is $500.

 

To claim a credit for tradesperson tools click here