I have bought a vehicle in 2022 that is class 10.1 and traded in my former class 10.1 vehicle. The T2125 form lumps the 2 vehicles in the same line instead of on separate lines as required by CRA. This leads to an incorrect calculation of CCA and results in a UCC of zero end of year even though i sill own my new vehicle. I see that this was a problem for the 2021 tax year as well. Is Turbotax going to fix this problem any time soon? I think the form works if you still keep the same vehicle from the previous year but it is a problem when disposing of the old and buying new. Please advice what turbotax is doing to solve this problems.
Hi @barbara957 !
Thanks for the question. Here is a FAQ that should be able to help:
In addition, the CRA provides information specific to 10.1 vehicles and CCA, which may be useful to use as a reference:
Hope this provides some clarity for you, and happy filing!
Was this issue fixed? I am having the same problem. I did not find the documents referred to in the reply helpful.
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