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AltaRed

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About AltaRed

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  1. Windows 10 Defender does not like UFile 2019. Firstly, it won't let one download the software package without bypassing (overruling) Windows 10 Defender. Once that is done, the software installs and will pick up an existing XXXX.u18 file and prepare the initial 2019 XXXX.u19 file. However, there is then no way to 'Save' the file, or to start work on the file and then Save. A dialog box pops up with the message "Failed to Save. The tax file you are trying to save is locked by another application". This seemed to be an Anti-Virus action so I went in and provided an Anti-Virus exception for the
  2. You may have indicated how much to use in the data entry section of the 'net capital losses of other years' rather than leaving the data entry box blank and letting the software decide. The amount you can use is at the bottom of Schedule 3 of your return.
  3. You start with ticking off the right boxes in the Interview process, and then the right lines will show up in the UFile window on the left. With interview based software packages like Ufile or TurboTax, you must carefully check off the right boxes in the interview process... Otherwise you don't find them.
  4. Examination fees required to obtain/keep professional licenses should be reported on Schedule 11, in essence a tuition tax credit. Such fees must be at least $100 do be covered.
  5. You don't pay any capital gains taxes on principal residences, so there are no tax deductions for principal residences. Nor is rent tax deductible either. Exceptions are for portions of property used for self-employment such as home based businesses.
  6. Property taxes, including school taxes, are not legitimate deductions on a principal residence. Only an expense item on an investment property.
  7. It has to show up on your spouse's return. If you are designating yourself as 'head of household' and have filled in relevant spousal data on the next tab, UFile should automatically populate your spouse's return for his/her 50% share of investment income.
  8. Don't use T5008 data if you are going to use brokerage ACB and Proceeds data from Capital Gains (Loss) Reports (different brokerages name these reports slightly differently). The official T5008 from your broker cannot have the Cost Basis, aka Acquisition Cost, aka Book Value box filled in because technically your broker cannot be sure of your Cost Basis : 1) especially if you transferred the asset in from another brokerage and they can't verify what your Cost Basis is, 2) you may have the same stock in another brokerage account unknown to them and you have to aggregate your holdings to get to
  9. Amount in Box 28 of T4A slip is entered using Autofill.  However, netfile 
    error message indicating return cannot be netfiled as amount not entered.

    1. AltaRed

      AltaRed

      I am not familiar with this issue. Perhaps delete the Autofill data from this T4A and manually input all the data from the T4A slip. It should translate over to Line 130 when you Review your return.

      I have found in the past that Autofill can be problematic and do not use Autofill any more, especially on Box numbers that are not automatically part of the T4A.  It's a shame but Autofill does not seem ready for prime time.

  10. Is the family head trying to claim the spousal deduction? He shouldn't be. Separated spouses should have essentially independent tax returns, with the only shared financials potentially being investment income or Schedule 3 dispositions for the period pre-separation in JTWROS accounts. Both of those categories (investment income and Schedule 3 can be allocated in Ufile. If that doesn't work either, then don't use the '% and transfer to spouse' options for investment income and capital dispositions. Ignore sharing and simply divide the tax slips up prior to data entry and only enter the releva
  11. If you can Netfile his 2018 tax return, then just do it. Did it for my mother 3 years ago for her 2014 tax return (died in April 2015). CRA does not care for a tax year in which the person was alive for the full year. The bigger complication is if a Balance is due. Either the executor pays it out of one's own pocket and gets reimbursed later from the Estate, or try to get the Estate bank account to pay Balance owing (the former is much easier). If there is a refund, then when it comes in, just have the cheque deposited to the Estate back account.
  12. You may need to ask a tax accountant how to deal with this. The issue here is that as of Dec 31, 2018 you were married in the eyes of CRA and have to record it that way on your tax return. It doesn't matter yet to CRA what happened after Dec 31st....that is an issue for the 2019 tax year. IF I was to make an assumption on my own, without expert advice, I would simply fill out the tax return as a Single person, not head of household, and mail it hard copy to CRA with a cover letter saying just what you said here., i.e. the bum came to live here and walked out on me, and left me with no inf
  13. If, in the Interview Setup, you check marked "Capital gains (or losses) and capital gain history", you will see "Capital gains (or losses) and ABIL" in the left column and when you click on that, it brings up the "Capital Gains and ABIL" box...and one of the selections is "Real estate, depreciable property and other properties". Click on the + sign and you will get a sheet with a lot of data entry lines. The assessed value of 2010 goes in the 'adjusted cost base of the property' data entry box. The proceeds of disposition box and expenses incurred in making the disposition are self-explanator
  14. Ufile populates Schedule 3 automatically as you enter your T5008 data. - Yes, total shares sold in 2018 (and only those sold in 2018) - I don't use adjustedcostbase.ca so can't help you, but it should be intuitively obvious.... Cost or Book Value is the same as 'Adjusted Cost Base" - Disposition is the total dollars you received (not including commission). Commission goes on the Expense Outlay.. Or if your T5008 includes commission cost already in the sales proceeds, leave Outlays blank.
  15. It means you already have the sheet for that open. Look just below the 'Capital Gains (or Losses), CarryForwards line. I was able to duplicate that 'error' that way.
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