flash_os
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flash_os reacted to Geo123 in The pensionable earnings entered for a T4 exceed the amount of T4 income
Hello SV2022,
This may be your situation, if you worked in Quebec in the current taxation year but resided in another province (e. g. in Ontario), you should have received two tax slips: a Federal T4 slip and a Quebec RL-1 slip.
In the "Review" tab, you may see the following "Warning": "The pensionable earnings entered for a T4 exceed the amount of T4 income". Please ignore this warning.
The program will generate the Form RC381 pertaining to the inter-provincial calculation of the CPP and QPP contributions and overpayments.
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flash_os reacted to Geo123 in Declare the full amount of capital expenses for the last year of my rental property?
Hello flash_os,
In Ufile go to the T776 >> CCA
T776 CCA Addition
Example :
Description of the asset: MyRentalBldg-
Opening balance of the undepreciated capital cost $100,000.00
To whom the CCA should be allocated < - - -LEAVE AS NULL
Portion (%) of CCA used for business or employment < - - -LEAVE AS NULL
Purchase date of the property 01-01-2019
ACB of the depreciable capital property in this class $100,000.00
Limit to the CCA of this class
Description and amount of capital additions (other than AIIP): < - - -SELECT THIS ONE
[Aluminum Siding] [ $10,000.00]
Description and amount of capital additions of AIIP:
Application of half-year rule to current year additions Yes
T776 – p3 Area A – ½ year rule applied ok
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flash_os reacted to BLSM in Capital Gain declare on Rental Property Sale
The Adjusted Cost Base is the purchase price, plus any costs to acquire, such as legal fees, etc.