Commercial Table Cart (59"L x 27"W x 38"H) - lifetime table cart
First year working in a commission compensation structure at a new company. Purchased a vehicle in May 2023 for this role, use it approx 70% work and 30% personal.
Let's say the vehicle I purchased was 20,000 and used from May - Dec... my understanding would be that I can claim the following as CCA: 20,000x30%=6,000 /2 (for half year rate) = 3,000 x 70% (prorate for 30% personal use = 2100. Where do I enter this amount?
I've added a 'purchased vehicle' tab under motor vehicle expenses in the interview but am a bit lost as to how to properly enter my information.
> T777 - Employment expenses p2 Capital cost allowance (see Parts A and B on pages 4 and 5) $3,000 Line 20 multiplied by line 29 Employment-use portion = $2,100 30 >
Interview >> Motor vehicle expenses >> Purchased motor vehicle Vehicle information *Model of vehicle [CCA Addition] *Make of vehicle [My_Car] *Purchase date of the vehicle [01-01-2023] *Kilometres travelled to earn employment income [7] Total kilometres you drove in the tax year [10] CCA class *CCA class of the vehicle [Class 10 - 30%] *Opening balance of the undepreciated capital cost [NULL] Vehicle acquisition during the year *Description and amount of capital additions (other than AIIP): [My_Car] [$20,000.00] *Description of the vehicle [My_Car] *Adjusted cost base of the vehicle [$20,000.00]
I understand that as the vehicle is partially used for personal use, the deductions are pro-rated - do I need to calculate that prior to entering them into the boxes in the interview (such as "maintenance and repairs for the year")?
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