Purchased a truck on March 03,2016 for $20000.00.In Oct.10,2016 met with major accident in USA. Scrap amt. got $4600. How to report in T-2(Corporation Tax return)

Only question is this how I can report Loss $15,400.00 which is in the tax year. I check all the answer but not any one related to this type.


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It should be reported as a terminal loss.  It is a type of capital gain/loss calculation.  Search for Interpretation Bulletin IT478R2 (terminal loss) and T4037 (Capital Gains)

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