Would like to add in additions to a class 1 CCA it...

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elytagirl
New Member

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

 
11 Replies
TurboTaxKim
Moderator

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

While on your Self-Employed Summary, you can choose to "edit" any T2125 - Statement of Business Activities that you have already made entries on. Continue through the screens and when you come to the one that says "Taxpayer, did you have any fixed assets?", click continue. On the next page, you can choose to Enter any New Additions or Enter any UCC Amounts. 

elytagirl
New Member

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

On the farm income and expense it is missing the button that should say "Enter Additions/ Dispositions of the Current Year", as shown in your second picture. How are you supposed to enter it without the button? The only buttons shown are "Enter UCC Balances from Prior Year" and "Done".  It is obviously an error in the program, please find a way to fix it so I can finish my taxes.
kinosoo
New Member

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

exact same problem
ukdirtbag
New Member

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

Has anybody found an answer to adding a new asset for CCA? When I first went through the process it slowed me to add one and now there is no option to add additional assets for the current year I am working on.

ukdirtbag
New Member

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

That should read "allowed me".

TurboTaxBrenda1
Moderator

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

To add a new asset for CCA, you will return to the page that says "here's your capital cost allowance for your assets" You will need to click on "edit" beside any one of the assets you have listed. Then you will see the "Add a new CCA" button. 

binkabonka
New Member

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

The solution Turbo Tax is offering here does not work.  I have called Turbo Tax re: this multiple times.  The Turbo Tax agent agreed that it was a bug and that they are are supposedly working on fixing it.  Until they do, I cannot finish my taxes.

klinekin
Level 1

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

I am having the same problem. I'm unable to enter current year CCA additions as there's no button or way to do so. I've been dealing with Turbotax support for hours on this and they don't seem to realise it's a known bug in the system. They've been wasting my time asking to share my screen and going back and forth through my whole return while I explain to them that there really is no way to enter any CCA for the current year. Your system is screwed, Turbotax, and you need to fix it without asking your users to hang on the line for hours explaining something your agents should know about!

TurboTaxHeba
Moderator

Would like to add in additions to a class 1 CCA item but can't find any way to do this. The CCA functions on Turbo tax for business users is VERY POOR!!!!!

If you are using TurboTax download the Home and Business version:

To add CCA to your business sheet, you will need to go back to your business profile (from the left-side menu) and click on "Edit" beside your business name. The first business income will show the business information you want to enter. Choose "Assets used in your business and CCA calculation". On the fixed asset page, check all the boxes that are applicable to you, then you will be able to add a new purchase to your CCA.

 

The interface is slightly different on other versions but they do have the option to edit your business statement to add assets or CCA. 

 

 

 

Have a nice day

 

 

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