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AltaRed

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  1. Agreed. As I understand it, the data file Netfiled to CRA does not contain it anyway.
  2. Agreed. Going back to the first post, no interest would be declared in 2022. It will all be declared in the 2023 tax year.
  3. You can if you wish but UFile may not accept it this way. In which case just show 100% on your son's return. CRA may come back with a query on that when they process the NOA, upon which case you will need to send CRA a letter with the explanation. The question is.... why is your SIN on that GIC investment to begin with? Try to get that changed with your financial institution for next year.
  4. No. I wish UFile would tell us what each update fixed. It is bizarre for a software company not to publish a record of revisions and why. May have to stop using this software if they are so secretive about what changes they make.
  5. When you first load UFile, do you not see the files you can open in the dialog box? UFile knows which folder you saved the *.u20 files and they would show in the dropdown dialog box.
  6. Go to the tab of Tax Return... between the Review and the Netfile tabs. You will see options to save PDF and print.
  7. Carrying charges in the same sub-group as 'Investment and interest Income and expenses'
  8. If you don't have auto debit from CRA set up (if you can even do that for 2020 taxes owing), then no. They won't have any authorization to dip into your bank account.
  9. I've seen at least a few instances on financial forums where people have brought up that issue. It must be a set of somewhat unique circumstances. What I have advised people to do is as you suggest. Let Maxback optimize and then do a case with zero split to be sure. If the zero split works out better, then one needs to iterate between 0 and Max to find out where the optimum is. I now do a zero split case just in case..... Regardless, UFile needs to re-visit and QA the algorithms for those particular circumstances.
  10. AltaRed

    T1135 amend

    All is well. That happened to me too (and I think it was that way in 2019 too). UFile needs to make a programming change to avoid that screen re-appearing. It should go straight to the confirmation page.
  11. Just to close the loop here as well, there is nothing to report in the tax return since nothing was sold.
  12. AltaRed

    T5008

    Ahhhh, so some institutions issue T5008 even if there are only buys!! I am surprised BMO IL would do that because there is no reason to do so. There is nothing to enter into your tax return if you do not have dispositions (Box 21). If there is nothing sold (Box 21), there is nothing to report. As I mentioned, every financial institution's T5008 looks differently. I've seen at least 4 versions over the past 5 years. It does not matter as long as the Box numbers are correct. The CRA logo in the upper left is simply an indication this is a CRA designated tax slip and this one is a T5008. My sincere apologies for doubting /challenging your premise that you did not sell anything but yet received a T5008. Who woulda thunk anyone would do this?
  13. AltaRed

    T5008

    CRA does not issue T5008 tax slips. They come from your financial institutions, and they are only issued if you had some capital sales of securities. You said you did not have any security sales and yet you must had security sales if you received T5008 forms with data in them. Which is it? https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/tax-slips/understand-your-tax-slips/t5-slips/t5008-statement-securities-transactions-slip-information-individuals.html The sample image in that link is just one form. Financial institutions issue T5008 forms in a wide range of formats. Here is a weird one from Interactive Brokers https://www.interactivebrokers.com/cn/accounts/legalDocuments/sampleForms/T5008.php?ib_entity=cn Here is the relevant guide on what is in a T5008 https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4091/t5008-guide-return-securities-transactions.html FWIW, everyone should sign up for a CRA MyAccount. It makes it much easier to see what is on your file, it is easier to amend tax returns online, etc, etc.
  14. AltaRed

    T1135 amend

    Concur. I would just file the correct 2020 version and leave it at that. There's been no obvious conscious effort to evade/avoid correct reporting.
  15. Not that I know of. Read https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-30400-amount-eligible-dependant/you-claim-amount-eligible-dependant.html and https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-30400-amount-eligible-dependant/you-claim-amount-eligible-dependant-line-30400-6.html
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