You can check your return from 2023 to see what the UCC was. You can either download the PDF from the bottom of the My Returns page in TurboTax Online 2024, or you can open up the return itself by logging into 2023. You can login to TurboTax Online 2023 here: https://ww1.2023.ca.turbotaxonline.intuit.com/
Hi,
I have the returns opened but I really do not know what I am looking for. I do not see anything that specifically states "UCC Amount". There is a table on the T2125 just after Area G: Note 8 which shows "Motor vehicle expenses (Business). This table shows Allocation of expenses and also CCA. Is this where I should be looking? i really would appreciate any help.
Thank you.
You'd need to look at Col. 19 at the bottom of Area A – Calculation of capital cost allowance (CCA) claim.
Thank you for the assistance however this table is blank on my returns. There are no figures anywhere on the table even though I did claim on vehicle expenses last year using TurboTax.
Did you take CCA on the vehicle in 2023 or did you just claim vehicle expenses?
I took CCA on the vehicle. I see an amount that shows the CCA amount so I guess I should subtract this amount from the original cost of the vehicle to get my UCC?
Did you check by going through the self-employment pages in TurboTax Online itself? You can login to TurboTax Online 2023 here: https://ww1.2023.ca.turbotaxonline.intuit.com/