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strattonkyle36-g

Question

Sold my business, how do i claim it?

Forum|Forum|1 year ago
April 30, 2024
1 reply
0 views

No text available

Was your business incorporated or were you self-employed? Are you using TurboTax CD/Download or TurboTax Online?

strattonkyle36-gAuthor

Thanks for your response. Self-employed/ sole proprietor, and using turbo tax online

When you are entering your business information as in other years, you will come across a question asking you if it is your last year of business. For your CCA, you would go through and dispose of all your assets. You will likely end up with a business loss if you have no income, but that's ok as you will be able to carry that forward to future years.

For further clarification you may wish to call the Canada Revenue Agency (CRA) at 1-800-959-8281.

Thank you for choosing TurboTax.