Search the Community

Showing results for tags 'capital gains'.



More search options

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • UFile General
    • Why I use UFile
    • General
    • Feedback and suggestions
  • UFile Online
    • Getting Started
    • User name and password
    • Importing data
    • Printing and saving your tax return
    • Technical questions
    • Electronic filing (NETFILE)
  • UFile for Windows
    • Buying UFile for Windows
    • Standard VS Plus
    • Installation
    • Updates
    • Importing data
    • Electronic filing (NETFILE)
  • UFile PRO
    • What is UFile PRO?
    • Buying UFile PRO
    • Electronic filing (EFILE)
  • UFile T2
    • Getting Started
    • Importing Data
    • Electronic Filing
  • Tax questions
    • Setting up your tax file
    • Reporting income
    • Deductions
    • Provincial credits and returns

Found 5 results

  1. Hi I have been struggling to find out where to input these receipts from hardware stores I've gathered which pertain to improvements I've made to my home. I am getting ready to sell the house within this year. I haven't a clue as to where to input these receipt amounts but I was told to put it in capital gains. Regardless I have not found the form to add to my tax file I have going online at the moment. Could someone provide easy instructions as to how/where I can do this?
  2. Line 127 and non-residents

    Good morning, I'm using UFile and this is my first year using it as a non-resident, living in the UK. I had capital gains from the disposition of mutual funds however under the Canada-UK tax treaty I'm not liable for Canadian taxes for these gains, the capital gains tax would be collected by the UK. On the CRA website [1] under "Taxable capital gains" it says: Do not report any gain or claim a loss from the disposition of taxable Canadian property if, under a tax treaty, any gain from the disposition of the property would be exempt from tax in Canada. If you have to file a return, attach a note stating you have not reported the gain or claimed the loss because of a tax treaty. However when I import my T5008 and Ufile calculates Schedule 3, it applied the taxes on line 127. How do I blank out line 127 as the CRA says to do above? I've told Ufile I'm non-resident however I can't seem to find any button to say something like "exempt capital gains under treaty" or a place to simply put 0 in line 127. Thanks! [1] http://www.cra-arc.gc.ca/E/pub/tg/t4058/t4058-e.html#P278_32137
  3. If I enter all in formation from T5 and T3 for mutual funds under " Interest, investments, income and..." Will the capital gains indicated on the T5 and T3 mutual funds will Ufile automatically calculate any possible deductions or exemptions or do I have to deal with "Capital Gains (or losses) & ABIL"?
  4. CCA recapture

    Been struggling a while on how to fill out Ufile for a sold rental property. I know i will need to show CCA recapture into the income but not sure how to enter the details into Ufile. In the CCA section, I have a Class 1 building ACB of $21K, UCC of $19K and Class 8 furniture ACB of $11K and UCC of $6K. I'm not sure what to enter in the field 'Proceeds of Disposition of an asset'. If i look at the actual T776, it seems to show that the proceeds should not exceed the capital cost. So i would just enter the ACB amounts? I sold the entire property for $440K, purchased for $380K. I have expenses on purchase and sale of course, but i have entered these in another section so i don't think i need to enter them in the CCA section as well. thanks.
  5. If a foreign property was jointly owned by my spouse and me, can I split the capital asset across both of us?