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Bretonix

UFile Support
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Posts posted by Bretonix

  1. It is unfortunate that many T4 issuers do not indicate an amount in Box 56 when they should.

    Use the amount from Box I in your RL-1.

     

    Note that when Box 56 is blank, UFile will use the amount in Box 14.

  2. The business loss showing in the Self-employment income section of the T1 return, page 2, is applied against all other income.

    If the result is a negative amount in line 150 (total income),

     - Form T1-A (Request for Loss Carryback) is triggered

     - Non capital loss CF (Federal) worksheet is generated

     

    You are entitled to carry the loss back three (3) years or forward 10 years.

    The carry forward is done by UFile when you trigger the carry forward of your file from one year to the next.

  3. Field 5508 is one of the fields known as "supporting fields".

    It appears only, when necessary, in the electronic record sent to CRA.

     

    Please contact the Support group as they will require an anonymous copy of the taxpayer's file.

     

    UFile ONLINE: help@ufile.ca

     

    UFile for Windows: support@ufile.ca

     

  4. As you work in Ontario and reside in Quebec you received:

     - one T4 slip with ON in Box 10

     - one Relevé 1 with your benefits taxable in Quebec.

     

    1) T4 slip

    In the T4 and employment income section

     - select "T4 income earned outside Quebec"

     

    2) Relevé 1 (RL-1)

    In the T4 and employment income section

     - select "T4 and RL-1 (Relevé 1) income earned in Quebec with QPP contributions"

    Enter the data as follows:

     - Box A - as per your RL-1

     - Box E - as per your RL-1 (there is an amount if you asked to have Quebec tax withheld)

     - Box 56 (RL-1 Box I) - 0.00

     - Box 28 - Exempt CPP/QPP

     - Box J - as per your RL-1

    All other boxes should be blank.

     

    In the Review / Messages section you will see warnings related to taxable benefits and RL-1 Box 211.

    Ignore them.

  5. Has your son been employed in 2016 and was he a full-time student for more than 13 weeks in 2016?

     

    If yes and you entered first his employment income only he would have been eligible to the Working Income Tax Benefit (WITB), line 453.

    Schedule 6 would have been produced.

    When then you enter his tuition information he is no longer eligible to the WITB, line 453 is empty.

     

    If this is not your son's situation,

    please contact the Support group as they may have to see a copy of the file.

    UFile ONLINE: help@ufile.ca

    UFile for Windows: support@ufile.ca

     

  6. You are right, it is a UFile interface change (both Windows and OnLine).

    The data entry page is attempting to mirror the layout of the actual Schedule D,

     - Information about you

     - Information about your spouse

    As a result, a heading QST component is no longer feasible as the QST credit involves the individual and an eventual spouse.

    Data entry for your son living at your home should be,

     - did you live in a dwelling, either alone or ...? - No

     - were you tenant or owner? - Neither tenant nor owner

     - address and northern village as appropriate

    Verify the resulting estimate in your son's Solidarity credit calculation

  7. As the move from Ontario in 2016 was for your wife to start a job in Halifax, only she is eligible to claim Moving expenses.

    She cannot claim any expenses in 2016 as she has no income in that year related to her new job.

     

    However, as explained in Form T1-M, page 2

    http://www.cra-arc.gc.ca/E/pbg/tf/t1-m/t1-m-16e.pdf

    "Unused moving expenses available to carry forward to a

    future year (line 24)

    If you are an employee or self-employed and your net moving

    expenses (line 21) paid in the year of the move are more than the

    net eligible income (line 22) earned at the new work location in that

    same year, you can carry forward and deduct the unused part of

    those expenses from your employment or self-employment income

    you earn at the new work location and report on your return in the

    following years."

     

    Your wife will be eligible to claim the carried-forward moving expenses in her 2017 return against her income in her new job.

     

    All the data pertinent to the move should be entered in your wife's 2016 return.

  8. The capital gains dividends you entered in Box 18 of your T5 were reported as capital gains in Schedule 3, line 174.

    Then, you probably had a positive amount on line 197, so 50% (the inclusion rate) were reported on your T1, line 117 as taxable capital gains.

     

    UFile in turn prepared all the data that needs to be carried over from year to year.

     - the inclusion rate for year 2000

     - other capital gains history

     

    The inclusion rate for 2000 is of interest to persons who had capital gains or losses in that year.

    There were three inclusion rates, from 75% to 66.67% to 50%.

    Depending upon the date(s) on which a person disposed of securities in 2000 the inclusion rate would be one of these values or a weighted average.

    For more information, please consult the Capital gains publication;

    http://www.cra-arc.gc.ca/E/pub/tg/t4037/t4037-16e.pdf

     

    In your 2016 Tax return package you should see the internal charts Capital gains history, federal and Quebec.

     

    Should you want to check the completeness of your historical information, register to the CRA My Account.

    All the data is available for you.

    The information is not available in Revenu Québec My Account.

  9. Yes, you leave the section alone although remember that UFile uses the information to keep tarck of your CNIL (federal and Quebec).

     

    Remember that, each year, you should save your whole Return package in PDF format.

    Form T936 and Form Tp-726-6 are part of the package, should you ever need to refer to them.

  10. Cumulative Net Investment Loss (CNIL)

     

    The CNIL balance is the amount by which the total of all investment expenses exceeds the total of all investment income for all tax years after 1987.  The CNIL can be calculated by filling in CRA's form T936 for each year after 1987.

     

    The expenses for the safety box (2012 & 2013) were, at that time, an eligible investment expense.

    This is why you see the amount as part of your CNIL balance.

     

    The CNIL is used in the calculation of the capital gains deduction available on the sale of qualified capital property.

     

    For more information on the capital gains exemption consult the following link

    http://www.taxtips.ca/smallbusiness/capitalgainsdeduction.htm

     

    In Quebec, the process is similar on Form TP-726.6, although investment income is kept separate from investment expenses.

    In a given year you cannot claim investment expenses greater than your investment income.

     

    UFile tracks your CNIL from year to year as part of the carry-forward process.

     

    Forms T936 and TP-726.6 for a given year provide the detail of all calculations pertaining to that year.

     

  11. Also be careful as your trading summary normally shows Buys as well as Sells.

    Buys must not be reported in your tax return.

     

    The summary is right in saying T5008 as T5008 is the way to report ALL your transactions to CRA.

    For further information you might want to consult the following publication

    T4091 T5008 Guide - Return of Securities Transactions 2015

    http://www.cra-arc.gc.ca/E/pub/tg/t4091/README.html

  12. The questions pertaining to Schedule 1-A - Family tax cut are always in the Controls page of the "Family Head".

    All you have to do is to select "Yes" for the question pertaining to the line(s) mentionned in the Messages diagnostic(s).

     

    You must also select "Yes" to confirm that you had a child under the age of 18.

    The child must be in the family file.

     

    Note that these questions have been imposed on all software developers by CRA.

  13. The T5008 pages in UFile look identical because there is only one actual form T5008.

    The results however are quite different:

     - data entered in the "investment income" page generate entries in Schedule 4

     - data entered in the "capital gains/losses" page generate entries in Schedule 3

     

    As the T5008 form your received relates to shares you sold you use the "capital gains/losses" T5008.

     

    However be careful not to duplicate your entries.

    When you sold your shares you might have received a transaction sheet which you then use to make an entry in the Capital gains section of UFile.

    If this is your situation do not use the T5008 page.

  14. When RRSP undeducted contributions are accepted into the Interview they are recorded correctly as "Undeducted contributions"

     

    Unfortunately they are also recorded incorrectly as "Undeducted contributions you made to your spouse's" (plan)

     

    When the taxpayer is without a spouse these erroneous contributions are hidden as there is no section Contributions you made to your spouse's RRSP.

     

    Corrective procedure

    Open your file

    1) Change your marital status

     - access your "Identification" page

     - change your Marital status for "Married" or "Common-law spouse"

     - click Next

    2) Erase the erroneous contributions

     - access your "RRSP contributions, limits" page

        the section "Contributions you made to your spouse's RRSP" is visible

     - erase all "Undeducted contributions you made to your spouse's"

    3) Re-instate your marital status

    - access your Identification page

     - change your Marital status back to what it was

     - click Next

    4) Save your file

     

  15. My understanding is that the only data showing in your RL-1 is the amount of Quebec tax withheld in Box E.

    If you try to enter the data in a T4 income earned in Quebec you will get error messages.

     

    Use a T4A page instead (in the pension group).

    Enter the Quebec tax in Box RL-1 box E.

     

    Verify your results.

    The Quebec tax withheld is added in Line 437.

    Details for Line 437 are shown in the Worksheet (Federal) of your Return package.

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