CCA for motor vehicles not calculating on the T776

Since the legislation for the use of motor vehicle CCA for rental income is different from the other business statements, ProFile does not automatically transfer CCA amounts from the Auto worksheet to the T776CCA worksheet.

In releases prior to 2003.4, CCA information has to be manually entered on the T776CCA worksheet. Currently: right-click on the Auto worksheet to copy the CCA information to the T776CCA.

Claim motor vehicle CCA for rental statements

1. Complete the CCA information in the Capital Cost Allowance for motor vehicles section of the Auto worksheet.
2. At the top of the form, allocate a percentage of the motor vehicle expenses to one or more T776 rental statements.
3. ProFile automatically looks to see if there already is a class 10 or 10.1 item entered on the T776CCA form associated with each rental statement.
4. If there is not, it attaches an audit message to the Capital Cost Allowance for motor vehicles section of the Auto worksheet. This message tells you where you need to enter the CCA information for the motor vehicle. If you have allocated the expenses to several rental statements, ProFile will list all T776CCA forms associated with those statements.
5. Manually enter CCA information on each T776CCA worksheet, or right-click and select Copy to T776CCA#1 to transfer the allocated percentage of the CCA amounts to T776CCA#1 form.
6. This is a one-time transfer. If you change CCA amounts on the Auto worksheet, you will need to change the individual CCA items on T776CCA. Changes do not automatically flow to the T776CCA form.
7. Repeat step 4 for each rental statement. ProFile will display the option in the right-click menu until each rental statement has a matching motor vehicle CCA item on the T776CCA form. The error message will disappear once you create CCA items for each of the rental statements.