- Sole proprietorship ended in 2019
- The sole proprietor used their personal vehicle for business over the years (approximately 40% for business in 2019)
- 2019 opening UCC $5,000.00
Some have mentioned booking a terminal loss with proceeds of disposition at $0 and others have said book the proceeds at FMV which is $5,000.00 (no CCA in final year).
The vehicle is not being sold the taxpayer is continuing to use it for their personal purposes moving forward.