Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 

Can I claim an amount under $500 in CCA class 8?

 
1 Best answer

Accepted Solutions

Can I claim an amount under $500 in CCA class 8?

Yes! Class 8 includes "Furniture regardless of cost and Tools under $500 can go in 8 or 12.

View solution in original post

3 Replies

Can I claim an amount under $500 in CCA class 8?

Yes! Class 8 includes "Furniture regardless of cost and Tools under $500 can go in 8 or 12.

Rush342
New Member

Can I claim an amount under $500 in CCA class 8?

What about items under $500 for my photography business such as a $130 space heater for my office?  $450 camera harness? $430 stand or sit desk?  Would these be considered tools under class 12?  Or would I add these up to $1010 and put them in class 8?

Can I claim an amount under $500 in CCA class 8?

@Rush342 

The $500 limit is for tools only. The items you've listed would go under class 8. You would enter each one separately, and they will automatically be combined into the class 8 pool.