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Can anyone tell me what happened to Line 9935 - Allowance on Eligible Capital Property? It is missing in the 2017 Turbo Tax Standard.

I am not understanding why a Line is missing in Turbo Tax Standard - it's been there every year!  Line 9935 is just not there!  

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Can anyone tell me what happened to Line 9935 - Allowance on Eligible Capital Property? It is missing in the 2017 Turbo Tax Standard.

Line 9935 has been eliminated from the T2125 - Statement of Business or Professional Activities by CRA.

As of January 1 2017, you can no longer claim the allowance for Eligible Capital Property, it is now considered "Depreciable Property" and you enter it as Capital Cost Allowance (CCA) - Class 14.1 (5%)

Pre-2017 CEC balances are converted into Class 14.1 under transitional rules which will allow for 7%. These rules will be explained when CRA releases the updated Guide T4002 -  Self-employed Business, Professional, Commission, Farming, and Fishing Income.  

Class 14.1 is further explained here:

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partners...

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2 Replies

Can anyone tell me what happened to Line 9935 - Allowance on Eligible Capital Property? It is missing in the 2017 Turbo Tax Standard.

Line 9935 has been eliminated from the T2125 - Statement of Business or Professional Activities by CRA.

As of January 1 2017, you can no longer claim the allowance for Eligible Capital Property, it is now considered "Depreciable Property" and you enter it as Capital Cost Allowance (CCA) - Class 14.1 (5%)

Pre-2017 CEC balances are converted into Class 14.1 under transitional rules which will allow for 7%. These rules will be explained when CRA releases the updated Guide T4002 -  Self-employed Business, Professional, Commission, Farming, and Fishing Income.  

Class 14.1 is further explained here:

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partners...

Can anyone tell me what happened to Line 9935 - Allowance on Eligible Capital Property? It is missing in the 2017 Turbo Tax Standard.

Thank you so much - perfect answer - much appreciated!