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when using the per/km allowance to reimburse for business use of personal vehicle, what happens to the unclaimed capital cost?
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ucc on personal use vehicle used in business
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#2
JoanTax 
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Posted 23 December 2011 - 02:28 PM
rusty1, on 23 December 2011 - 06:05 AM, said:
when using the per/km allowance to reimburse for business use of personal vehicle, what happens to the unclaimed capital cost?
This meaningless question should not be posted in the Profile forum.
Nonsense questions should be posted in the Turbotax forum, which is coloured blue.
#3
Old_number_17
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Posted 23 December 2011 - 03:49 PM
JoanTax, on 23 December 2011 - 07:28 AM, said:
This meaningless question should not be posted in the Profile forum.
Nonsense questions should be posted in the Turbotax forum, which is coloured blue.
Nonsense questions should be posted in the Turbotax forum, which is coloured blue.
Correction Joan...
https://turbotax.com...botaxonline.ca/
#4
Tim Parris
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Posted 24 December 2011 - 12:59 AM
Because Intuit has removed the TurboTax forum and replaced it with the Online Community, I suspect that we will see a number of TurboTax questions in this forum.
As an answer to the OP, I would suggest that a per km allowance is an accounting issue and UCC/CCA is a tax issue. The two are not connected. The Income Tax Act does not allow you to claim a per km deduction on the Canadian Income Tax Return.
Now, if you were talking the 1040 (US Tax Return), that is an entirely separate matter and I would suggest that you need to refer to the TurboTax US forums instead. Here is a link to the US forums: http://turbotax.intuit.com/
As an answer to the OP, I would suggest that a per km allowance is an accounting issue and UCC/CCA is a tax issue. The two are not connected. The Income Tax Act does not allow you to claim a per km deduction on the Canadian Income Tax Return.
Now, if you were talking the 1040 (US Tax Return), that is an entirely separate matter and I would suggest that you need to refer to the TurboTax US forums instead. Here is a link to the US forums: http://turbotax.intuit.com/
#5
spenceh
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Posted 28 December 2011 - 03:46 AM
Tim Parris, on 23 December 2011 - 05:59 PM, said:
Because Intuit has removed the TurboTax forum and replaced it with the Online Community, I suspect that we will see a number of TurboTax questions in this forum.
As an answer to the OP, I would suggest that a per km allowance is an accounting issue and UCC/CCA is a tax issue. The two are not connected. The Income Tax Act does not allow you to claim a per km deduction on the Canadian Income Tax Return.
Now, if you were talking the 1040 (US Tax Return), that is an entirely separate matter and I would suggest that you need to refer to the TurboTax US forums instead. Here is a link to the US forums: http://turbotax.intuit.com/
As an answer to the OP, I would suggest that a per km allowance is an accounting issue and UCC/CCA is a tax issue. The two are not connected. The Income Tax Act does not allow you to claim a per km deduction on the Canadian Income Tax Return.
Now, if you were talking the 1040 (US Tax Return), that is an entirely separate matter and I would suggest that you need to refer to the TurboTax US forums instead. Here is a link to the US forums: http://turbotax.intuit.com/
There is, however, an opportunity to calculate the cost of business use kms when total vehicle costs are available.
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