Filling out S8Supp and S8 when there is a Section 85 rollover
I cannot figure out how I can enter the acquisition of equipment with
UCC of $9000,
CC $23,000 and
CCA claimed for $14,000.
In S8, column 4 under Note 2. it reads "include amounts transferred under section 85..." But there is no field to enter CCA claimed. Do I enter the CCA claimed in the S8Supp field "Pre-valuation day depreciation" or perhaps. I know I can enter the UCC amount under the addition field but if the equipment is later sold there could be a capital gain instead of recapture.
Any help would be much appreciated.