Thank you for giving us the opportunity to provide you servicing. Our team can definitely assist you with investment income.  If you have specific questions regarding investment income, you can talk to our support team via phone, visit  TurboTax support. After entering some basic info about what you need help with, the page will give you the phone number for the team best suited to help. If you have TurboTax Live Assist & Review, here is how to talk to a Tax Expert or book a review. ... View more

Thank you for choosing TurboTax.  As per CRA, the difference between purchase price and sale price for capital properties is referred to as Capital gains or losses. In case the sale price is higher than the purchase price, you have incurred a Capital Gain, whereas, if the sale price is lower than the purchase price that is recorded as Capital loss.  The capital gains are claimed by completing schedule 3 for the current tax year, to report eligible capital gains from all sources. Once calculated,  50% of the total  is transferred to line 12700 of your tax return as your  taxable capital gain  amount.  Just as with capital gains, capital losses are reported using schedule 3, and allowable losses may be used to offset gains within the current year, up to three years prior, or carried forward to future years, depending on the situation. For example; capital gains on personal property items are earned and reported, but capital losses on these items may not be eligible. Losses are somewhat more restricted than gains, and carrying losses forward requires a calculation of a capital loss adjustment factor, which depends on the carrying year. Despite the additional calculations, since capital losses apply directly to offset taxable capital gains, the tax savings may be worth consideration. For further clarification please refer to our blog: Claiming Capital Gains and Losses and How to Calculate a Capital Gain or Loss You can also   contact us   or if you prefer you can reach us on social media through Facebook or Twitter .  ... View more

Thank you for choosing TurboTax.  If you have claimed Capital Cost Allowance (CCA) in the past on any of owned assets (vehicle, software, building [*doesn't include land*]) for your business, you will have a number left at the end of the year known as Un-depreciated  Capital Cost or UCC.  If this is your first time claiming CCA on that vehicle, you will not have a UCC amount. UCC is the balance of the capital cost left for further depreciation at any given time.  For example, if you claimed the full 30% CCA on a $10,000 vehicle last year, your UCC would be $7,000  ( $10,000 - $3,000 = $7,000 UCC) For more clarification on CCA refer to: Capital cost allowance (CCA) (As per CRA).  Refer to our blog: Recapture of Capital Cost Allowance  You can also   contact us   or if you prefer you can reach us on social media through Facebook or Twitter .  ... View more

Sorry for the inconvenience. If you have specific questions, you can talk to our support team via phone, visit  TurboTax support. After entering some basic info about what you need help with, the page will give you the phone number for the team best suited to help. If you have TurboTax Live Assist & Review, here is how to talk to a Tax Expert or book a review. ... View more

Thank you for choosing TurboTax. You can definitely claim printers and laptops under work from home expenses. If you are salaried, those expenses should be verified and approved by the employer. In case of self-employed you can claim the following expenses. If you use your laptop for business, you can deduct the expense. Rather than being a "usual" expense, laptops are considered to be capital costs. This simply means that instead of deducting the full cost, the expense is deducted over time - similar to your car. Claim the cost of the laptop in the CCA (capital cost allowance) section of your return. Select 50 as the class. As per CRA if you meet the eligibility to apply for work from home credits, you can claim the following expenses:  Can be claimed All salaried employees and commission employees can claim electricity heat water utilities portion (electricity, heat, and water) of your condominium fees  home internet access fees maintenance and minor repair costs  rent paid for a house or apartment where you live Commission employees can also claim home insurance property taxes lease of a cell phone, computer, laptop, tablet, fax machine, etc. that reasonably relate to earning commission income For further clarification please refer to our blog.  You can also   contact us   or if you prefer you can reach us on social media through Facebook or Twitter . ... View more

Thank you for choosing TurboTax. For salaried employee, you can definitely deduct internet and electricity costs. You can claim the following expenses if you are a salaried employee: Rent paid for a house or apartment where you live. Utilities such as electricity, water, heat, or the utilities portion of your condominium fees Maintenance (minor repairs, cleaning supplies, light bulbs, paint, etc.) Home internet access fees Office supplies (stationery items, pens, folders, sticky notes, postage, toner, ink cartridge, etc.) Employment use of a basic cell phone service plan long-distance calls for employment purposes   For commissioned employees:  property taxes home insurance lease of equipment such as a cell phone, computer, laptop, tablet, fax machine, etc. that reasonably relate to earning commission income All of the allowable expenses have to be prorated to the portion of the house you are using. For example; if you have a 5-room house, and you are using one room, you prorate by 1/5.   For further clarification please refer to our following blogs:  You Can Claim $400 In Expenses If You Worked From Home Due To COVID-19 Can I Deduct Work-At-Home Expenses?   You can also   contact us   or if you prefer you can reach us on social media through Facebook or Twitter . ... View more

Thank you for choosing TurboTax. The vehicle expenses category should consist of the expenses incurred throughout the year (January 2020 to December 2020).  For further clarification on Automobile expenses please refer to our blog.  You can also  contact us   or if you prefer you can reach us on social media through Facebook or Twitter . ... View more

Thank you for choosing TurboTax.  Subcontractor fees are included in the Inventory screens in Self-employment section of your return. You can reopen the business section and add the amounts. Choose "Business Summary" from the Self-Employment menu on the left side of your screen and click the option to Edit. On the screen that appears, select Income and Inventory.  You can also contact us or if you prefer you can reach us on social media through Facebook or Twitter. ... View more

Thank you for choosing TurboTax.  Generally, only one person (or a married couple filing jointly ) may receive the tax benefits derived from claiming any one dependent. If you filing your returns together then you don't need to list the dependent children on your own return.  For further  clarification please refer to our blog.  You can also   contact us   or if you prefer you can reach us on social media through Facebook or Twitter . ... View more

Thank you for choosing TurboTax. You can provide CRA your monthly bank statement or your initial agreement of the insurance which states the name and details of the vehicle and the access to pre-authorization payment. The CRA wants to validate if the payment is consistent and it is paid by the same person.  If still in doubt please contact CRA directly by calling at:  1-800-959-8281 Monday to Friday from 8 am to 8 pm and Saturday from 9 am to 5 pm (local time). You can also contact us or if you prefer you can reach us on social media through Facebook or Twitter. ... View more