How do I claim CCA on a new vehicle as an employee?
You qualify to claim Capital Cost Allowance (CCA) on a vehicle you own:
While you can't claim the total cost of the property in the year you bought it, you can qualify to deduct a part of the cost each year over a number of years.
Select your TurboTax product and follow these steps to enter the CCA for new vehicles into TurboTax:
- From the Tax home screen, under Add to your return, enter employment and select Employment Expenses.
- At the Employment Expenses Profile screen, select I received form T2200 - Declaration of Conditions of Employment from my employer… If you don’t have the form, you can’t claim employment expenses.
- At the Employment Expense Profile screen, select the boxes applicable to your situation, including Motor Vehicle Expenses.
- At the Employment Related Driving screen:
- Enter the vehicle info and the mileage driven info.
- Enter the required info under Enter the details of your vehicle if owned (not leased) and you want to claim Capital Cost Allowance (CCA).
- Select Done with Vehicles.
- Continue to the Motor Vehicle Expenses Summary screen where you’ll see your CCA claim under CCA For Year.
- Select Find and enter employment in the search bar.
- Select Employment Expenses and select go.
- At the Employment Expenses screen, check the box.
- At the Employment Expenses Profile screen, select the checkbox for Motor Vehicle Expenses, then continue.
- At the Employment Related Driving screen, enter the required info, then continue.
- Complete screens as needed and continue to the Capital Cost Allowance (CCA) screen. Enter the required info and select Done.
- Continue to the Employment Expenses Summary screen, where the amount under Net Deduction will include your CCA claim.