How to enter CCA class 50 Prior Years?

[Okynnor]

Hi, 

I am taking over from my CPA and filing my own taxes for 2022 tax year.  I woiuld like to know how I would enter the CCA class 50 amount from prior years into UFile 50. This is to ensure that when I enter the undepreciated amount, that it doesn't apply the 55% depreciation amount again on the remaining amount (i.e. original amount $5000.  2021 tax year, 55% taken.  Left is $2,250.  I need the remaining amount to be fully depreciated in 2022. How do I do that in UFile Pro?

So far, because UFile Pro doesn't know the historical amount, it is applying 55% to the $2,250, which is incorrect. 

 

[Geo123]

Hello Okynnor,

Class 50 - 55% (after March 18, 2007)  Computer equipment and systems software acquired after March 18, 2007.

Enter as in the following example.  Note that Class 50 is a declining balance amortization of 55% per year.

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/report-business-income-expenses/claiming-capital-cost-allowance/classes-depreciable-property.html#class50

Description of the asset: MyClass55

Opening balance of the undepreciated capital cost  [$2,250.00]
To whom the CCA should be allocated [ Business level (full amounts - 100%)]
Portion (%) of CCA used for business or employment [100 %]
Purchase date of the property [ 01-01-2020]
ACB of the depreciable capital property in this class [$5,000.00]