How to zero out UCC at end of year in the event of a terminal loss?

[Jaro]

I saw the following helpful advise, however, regarding step #2 below, once you find the line for the class you disposed of (if no proceeds have been received for the asset), do you delete that line in Area A of form T776 and simply indicate the amount (of asset deleted) as a terminal loss?  No CCA has been claimed for this asset.

If you had a terminal loss, follow these steps.

1. At the end of the Capital Cost Allowance screens, look in the UCC Balances section.
2. Find the line for the class you disposed of.
3. Enter the terminal loss in the CCA For Year field. 

[TurboTaxZaid · Accepted solution]

You don't have to delete the line. Following the steps will suffice. 

[Jaro]

Thanks so much, I appreciate your quick response. That explains it for me.

[TurboTaxZaid]

Glad I could help!