pollyrs
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New Condo Flipping Rules; unsure where/how to record a sale???
pollyrs replied to pollyrs's topic in Reporting income
UPDATE: I do now see it on the Schedule 3 but still get the Warning message ... is that simply that, a message? It will not hinder my Netfiling when I am ready? Always appreciate the assistance 🙂 Dana- 9 replies
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New Condo Flipping Rules; unsure where/how to record a sale???
pollyrs replied to pollyrs's topic in Reporting income
Hello Geo123, me again. I followed the advise you provided and completed all fields in UFile. However, it does not seem to be creating anything on the T1 Schedule 3 and in fact, I am getting a warning when I click on the Review tab. This is the warning message I get;- 9 replies
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New Condo Flipping Rules; unsure where/how to record a sale???
pollyrs replied to pollyrs's topic in Reporting income
This is amazing detail, thank you once again. It seems very similar to how I have done in the past (where/how to enter), I was just unsure if I needed to do anything different than I’ve done in the last. And it seems like Ufile maintains the same process and will take care of all the calculations once I’ve entered the details. Yay Ufile! 🤩 Thanks again , I appreciate the support, the detail, and all so quickly! 🙂🙏- 9 replies
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New Condo Flipping Rules; unsure where/how to record a sale???
pollyrs replied to pollyrs's topic in Reporting income
Ok that is sort of what I jd already thought. So where in Ufile do I enter this? Will the program prompt me and guide me to the correct entries ? thank you Geo- 9 replies
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New Condo Flipping Rules; unsure where/how to record a sale???
pollyrs replied to pollyrs's topic in Reporting income
Ok that is sort of what I jd already thought. So where in Ufile do I enter this? Will the program prompt me and guide me to the correct entries ? thank you Geo- 9 replies
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pollyrs started following New Condo Flipping Rules; unsure where/how to record a sale???
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Hello. I completed on a pre-construction condo in Nov 2022 with a partner. We decide to sell it but it did not sell before the end of the year (2022). We relisted in Feb 2023 but it was not selling so in the mean time, allowed 2 students (partners kids) to live in it for remainder of school semester. No rental income (they simply paid utilities and fees) and we ended up selling in June 2023. With the new rules in place, I am unsure where I would enter this "gain" from the sale in the program. Is it no longer a capital gain and if not, where do I enter the details of the sale to include in Business income!? Appreciate any assistance 🙂
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Can't NETFILE a return for a deceased spouse.
pollyrs replied to pollyrs's topic in NETFILE and filing
Thanks once again🙂 -
Can't NETFILE a return for a deceased spouse.
pollyrs replied to pollyrs's topic in NETFILE and filing
Thanks for the confirmation, I assumed that was the case. But for my second thought, should. I still proceed with Netfiling the. living spouses return? -
Hello, I am getting an error message when I am at the final stage of filing. I am doing a Family return and one spouse passed in Sept 2022. I have completed everything correctly but when I get to the Review section, there is a message that I cannot NETFILE the federal return for the deceased person. All the error says is > This person is deceased * I thought you could Netfile deceased person's file with UFile. Now I am not sure what to do ...do I still proceed with Netfiling the living Spouse? They are pensioners and do income splitting. Thanks in advance for any help!