CCA for Motor Vehicle

Try this - on the BusAuto screen, under Chart C - Capital Cost Allowance for motor vehicles - there is a line called "Lesser of costs and proceeds".  Enter the appropriate number there.

Will give it a shot - thank you!

Unfortunately that doesn't seem to do the trick.  I am needing to generate a number on the CCA Summary under Column 5 of Area A because I am disposing of this vehicle; however, I don't know where it pulls the number from when it comes to vehicles.

I'm actually wondering if, when you add in a vehicle as an asset, you have to fill out the BusAuto form AND an asset form?

Enter the disposition on the Bus Auto screen (Chart C section) it will populate the T2125 CCASummary automatically.

On what line do you see disposition on the BusAuto form?

on chart c of the business auto form the 13th line down. lesser of costs and proceeds. hope this helps. 

Sorry for the delay in looking at this again.  I only work part time as I am retiring after this year.

I did a disposition for Class 10.1 using the BusAuto screen and it works fine, populating column 5 on the CCASummary.  At the very top of the BusAuto screen, ensure that you are selecting the correct T2125 under the first column called "Allocation of expenses".  If you do not select that, and then put 100% under the % column, it will not transfer the information from Chart C to the T2125.  If that doesn't work, let me know.

i retired three times and i am still doing taxes! lol hope you can do it. thanks. 

Thanks Janis.  That DID work then, thank you.  The only thing it doesn't do is allow you to double click on the class number at the beginning of the CCA Summary to see the individual asset information.  Maybe it's not supposed to.  I just think it's odd that it's not there considering there is a line on it that specifically states "Proceeds of dispositions).

I have two final questions now if you don't mind.

Once I do the disposition via the way you said to, the CCA Summary says that there is no CCA for the year - does that mean you can't claim CCA in the year you sell the vehicle?
And lastly, the sale amount wasn't enough to utilize what CCA was there, so do I need to do anything with the amount still showing in Column 13 on the CCA Summary?

Once again, I appreciate the assistance!

Sorry for the delay in replying.  Just want to say thank you so very much for all the detail here.  I think I have it working - or at least it is good enough for now!  Getting too far behind on my other files.  So, once again, my heartfelt appreciation! 

One more question on this at the moment please.  Can you claim CCA on a vehicle that was purchased AND disposed of in the same year?

Thanks for responding James.  You would actually be right, as I've just found out after spending hours on the phone waiting on CRA.  It turns out that you cannot claim CCA in the year of disposition.  So that automatically eliminates the option of acquisition and then disposition in the same year because the disposition doesn't count - EXCEPT (if I'm correct in this) in the case of a 10.1 class vehicle).  Different rules apply there.

Thanks for confirming that Janis.  Are you able to tell me if that same rule regarding no CCA in year of disposition applies to rental property as well. (meaning you don't claim CCA on the disposition of a rental property in the year of sale).

I ran into this last year and the answer was that no, you cannot acquire and dispose of a vehicle in the same year.