I would like to take zero CCA on class 10 automobile.
Sole proprietor: opening UCC of $15,000.00 (2020)
Taxpayer business KMs: 0 (pandemic).
On T2125 Area A - CCA I entered:
Km driven for business: 0
Total Km: 1
On the form I see:
Maximum allowable CCA: $4,500.00
CCA claimed: $4,500.00
CCA business purpose: $0.00
UCC (ending): $10,500.00
Do I need to override the CCA claimed line to $0 so this taxpayer doesn’t lose $4,500 in UCC from a year when he has not used his automobile for business?
100 % Business vehicle and no claim for CCA desired, claim none if desired.
Combined personal and business vehicle with 0 % business in year. UCC as you have it.
Mothballed for the year and not driven I would think you could be okay keeping the opening UCC and ending UCC the same?