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Byrd Corp 2020 CCA Claim for Leasehold Improvements

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Byrd Corporation incurred $30000 in costs for leasehold improvements to a newly rented building with a 7 year lease signed in 2020 plus an optional 5 year renewal period. The maximum capital cost allowance (CCA) claim in 2020 for the leasehold improvements is $30000.

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During the 2020 year, Byrd Corporation incurred costs of $30000 for leasehold improvements to its newly rented building. The lease was signed in the current year for an initial term of 7 years, plus one option to renew the lease, for an additional 5-year term. What is the maximum CCA claim in the 2020 year? Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.

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  • 1. During the 2020 year, Byrd Corporation incurred costs of $30000 for leasehold improvements to its newly rented building. The lease was signed in the current year for an initial term of 7 years, plus one option to renew the lease, for an additional 5-year term. What is the maximum CCA claim in the 2020 year? Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.