Curmudgeon
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Posts posted by Curmudgeon
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In Interview setup go down to go down to Common tax deductions and check off the RRSP, HBP, ... box. This will give you a RRSP form if that's what you want.
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Did you try this?
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Is there a Capital gains history form showing up under Capital gains(or losses) and ABIL. Try changing the numbers there.
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Yes to (1) and (2). (I'm assuming Ufile will let you put in 2022 as the year of death in the 2021 package, but that's a software issue not CRA). I'm not a tax estate expert but I assume that a clearance certificate would not be issued until the final return has been assessed using the 2022 tax code. Therefore in 2023 a request of a reassessment of the final return followed by a clearance request. However, since such small amounts of money are involved, you might be able to shorten the process. What I would do is submit the final return and after it is assessed and the current tax filing period is finished so that the executor stands a chance of getting through, contact the CRA to see if a wait until 2023 is needed to apply for a clearance request.
Btw, this is what the CRA says:
If a person dies early in 2022, on or before the filing due date for their 2021 return, and they have not filed that return, ... the legal representative may choose to file the final return in 2022. The return generally will be processed in that year, using tax legislation applicable to the 2021 tax year. The legal representative then can request a reassessment of the return in the following year (2023) to apply any tax changes introduced for the 2022 tax year.
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A regular return for 2021 and a final return for the short 2022 period. Some tips:
- Because the person died before filing 2021 and before the filing date, the due date and payment of tax owing is 6 months after the person died. The spouse can also file at that time but must pay any tax owing by the usual time.
- Because the death was so early in the year, the final return can be filed in 2022 using 2021 tax rates. In 2023 the estate executor can request a reassessment of the return to incorporate any 2022 tax changes.
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What you are paying is in box 7. Box 11 gives the value of the income deduction, not what you are paying. Box 10 shows the tax credit of which you'll receive 15% of off your taxes. If you don't believe me, perhaps the CRA. Look at Part 4 of Schedule 8:
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Self-employed taxpayers are entitled to an income tax deduction equal to 50% of an individual’s self-employment tax liability from base contributions (original contributions before enhanced contributions came in). This is the employer's portion. It is what your form is showing. Ufile is handling everything correctly.
You will also receive a nonrefundable tax credit on the other half, the employee's portion, or a 15% of $2,077.50 tax saving.
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Are you in a high enough income bracket to require tax owing?
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In Interview setup go to the bottom and check off Tax paid by installments and tax transfers. It will then shoe up in the left-hand side menu.
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No, you don't have to put that in. If you have checked off the boxes appropriately, Ufile will add The Estate ... before the first name of the deceased on the form that is submitted to the CRA.
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In Interview Setup, Special situations, check Tax return for a deceased person. Fill in the information there and watch the available video.
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Not sure what you want but tax penalties are not tax deductible and you say your interest isn't either, so neither should show up as an expense.
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The T1 Adj is used when paper refiling. Did you recalculate the taxes and save before refiling?
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At what stage of the refiling is permission denied?
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One user with this problem had entered the Box 26 amount in UFile box 26* instead of box 26.
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Did you try MaxBack to see if it finds a split?
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This is what Help says but there doesn't seem to be anything of interest in Controls.
CPT30 - Election to stop contributing to the Canada Pension Plan or Revocation of a Prior Election
This form is not supported by the program
Relevant data is entered in the Controls page
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This problem is usually caused by not filling out the T2202 correctly. Double check everything including that the person is shown as a full time student.
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You have to start a new return, no carry forward. Not possible to delete family head or switch another person in as head.
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In Interview Setup go to Pension, click on the blue dot and select Split Pension Income with spouse. Change the question to Transfer to spouse and enter the amount.
T5 slips from banks
in Technical questions
Posted
A T5 has to be issued only if there is more than $50 of investment income. TD isn't issuing T5s until Feb. 28.