The rules for recapture and terminal loss do not apply to passenger vehicles in Class 10.1.
Enter your CCA as shown below. An example is provided for you.
At the beginning of the year, Pat had an undeducted capital cost (UCC) of $2,400
for Class 3. At the end of the T2125 Capital Cost Allowance (CCA) screens, Pat clicks
Enter UCC Balances From Prior Year.
Pat selects the class number (3: 5%), and the amount of UCC at the beginning of the
year ($2,400).
He selects any other class numbers, and their amounts of UCC at the beginning of
the year.
Pat clicks Add a New CCA Class to select any other class
numbers and their amounts of UCC at the beginning of the year, or he can click Done with
CCA.
At the end of the T2125 Capital Cost Allowance (CCA) screens, he looks in the UCC Balances
section.
He sold all of his class 3 property for $900.00 in 2023, so he clicks Enter Additions/Dispositions.
He selects the class (3), adds a description of the property, and in the Total Proceeds field, enters $900.00, and clicks Done with CCA.
He has no class 3 property at the end of the year, so he finds the line for the class he disposed of.
On the final T2125 Capital Cost Allowance (CCA) screen, the CCA For Year field shows a calculated
amount for class 3 of $75.00. Pat replaces that with
$1500.00 (his UCC of 2,400 minus proceeds of 900).