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Im having issues with the Motor Vehicle Expense Summary page, what is the CCA for year ? please explain

 
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Im having issues with the Motor Vehicle Expense Summary page, what is the CCA for year ? please explain

CCA is Capital cost allowance - the amount of "depreciation" that you are claiming on your vehicle for the year. You don't have to take any for the year if you don't want to.

 

 

 

Im having issues with the Motor Vehicle Expense Summary page, what is the CCA for year ? please explain

I am about to start my taxes and noticed this from last year as well (I didn’t bother claiming vehicle expenses last year as I did not have a vehicle log book and it was a partial year). 

For this year, I plan to claim expense but do NOT want to claim any CCA for my vehicle (I just want to write off business expenses; vehicle is used and paid for, I do not want the hassle). When I was testing this before (last year)  I didn’t see an option (it forced a CCA calculation for vehicle, even though I didn’t want it to). Please advise the process to avoid this issue when I file my 2024 small business taxes.  

Im having issues with the Motor Vehicle Expense Summary page, what is the CCA for year ? please explain

@creative3deas 

 

In TurboTax Online, you can change the amount of CCA that you are taking on the Vehicle expenses summary page, which shows after you've entered your vehicle expenses.