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ujay

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  1. Hi, Using UFile, I entered the Rental income for my building, which had an immediate effect on on my refund amount. The only expense that has an effect on my refund is Interest. I started adding non CCA expenses such as Hydro, Taxes, Insurance, Heating and Snow Removal. When I checked my results in Ufile in the results tab, My refund did not change. Should the Expenses not be treated as such against the income of the property? Please help me make sense of this. Thanks in advance.
  2. Ok I think I got. My trading summary from the bank has no box numbers and I have to provide the ACB which doesn't appear on my trading summary for all the transactions. The summary does say T5008 on it, but it is not. Therefore it would go in the Capital Gains (Losses) section only.
  3. I was issued a T5008 form for shares I sold. Some were losses. There are two seperate T5008 forms on UFile. One is for "investment income" and the other is for "capital gains/losses." Both forms are completely identical so I am unsure whether to fill out both or just the "investment income" form. Does anyone have any advice on this matter? Thanks in advance. This is a copied question from dariantax which i couldn't have asked better myself. Help is appreciated
  4. OMG. I found the reason in Quebec Schedule C. The tax credit changes by 2% based on total Family Income. I actually intrude into the next bracket by just a few dollars and it costs me an extra $170. Thanks for you're help overtaxed58, you pointed me in the general direction.
  5. The federal income tax rate remains the same amount on the T5 interest whether or not I enter the daycare credits. It looks to be the Quebec tax owing increases by $170 on my T5 income if there is daycare credits used. I can't seem to get my head around paying more income tax on my T5 interest if I have daycare expenses.
  6. I am saving 2 steps untill the very end, which are my T5 income and my daycare expenses in Quebec. For the sake of this example we will assume that me refund is $0.00 before the following steps. FIRST STEP - When I enter my "T5" interest amount of $623.21 in box 13, the extra "Total Refund" Goes down to $239.12 less of refund. This appears to be quite normal. SECOND STEP - Now I proceed to delete the T5 amount of $623.21 returning my total refund to to the $0.00 benchmark prior to step 1. Then I enter my daycare expenses of $8350 in daycare expenses for my Child in the first box and also the box "E" as well. My refund goes up $5875.90 (expected). Setting a new benchmarch at that amount. THIRD STEP - Now I re-enter my "T5" interest amount of $623.21 in box 13. I would expect that my refund is 239.12 less like in Step 1, but instead the "Total Refund" Goes down $406.12 less. This does not appear right, since the only difference from my first step and latter steps was extra child care expense credits. I am getting $167 less in refund when I introduce child care credits at any point in combination with my T5. I tried the online version of another program and this does not happen. Tried on paper and does not happen. I made a request with U-File and they fail to see a problem. I need help
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