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uny

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Everything posted by uny

  1. I read through many forum postings, none give a clear answer to my questions. Maybe one of the Pros can help.. I bought a Duplex in 2016. I claimed expenses for the rental portions over the years, but never claimed depreciation. In 2021 did $70K renovations. I need to add this $70K to value of house (I believe Class-1 4%). I never entered/filled any CCA form for this house. What I did. On LHS click "Rental Property income > CCA". On RHS click "Class-1 4%". I put these numbers: a) Value house (without the land) in "Opening balance UCC" = Say $500K b) "To who should be allocated" = I put 'Business 100%' c) "Portion of CCA used for business" = I put 50% (other 50% is personal use) d) Purchase date = 09-09-2016 Amount renovations: $40K general (eg. outside, etc..) so the 50% business portion applies. But $30K is solely for rental unit (so should be 100% business portion). So officially, increase in value of house should be $40K*50% + $30K = $50K Q? 1) Is ACB same as (a) above "Opening balance", ie. $500K (since never claimed any additions, nor depreciations for this house) + legal costs ? 2) In "Description Capital Addition", how do I enter amounts of my renos, so that $40K is under 50% use, and $30K is 100% use? Do I simply "double-up" the $30K, so I enter 40+2*30 = $100K, so that when Ufile software does calculation of 50% portion, it comes out to $50K (which is correct amount)? OR do I need to do multiple entries in "Class-1 4%"? If so, what do I enter in "Opening bal", ... for each entry? 3) "ACB of depreciable Capital Property" - do I need to fill this manually. Its not automatically calculated? 4) Next year 2022, I will have more major reno, say $40K. When I enter this amount in "Class-1" for 2022, must I manually enter all the values again ie. Opening balance, ACB...? Or will Ufile carry-over the info and calculate these automatically? And will new "Opening balance" in 2022 be $500K + my additions ($50K) = $550K ? Thank You
  2. Actually, there are many reasons why you may want to do that. First, uFile orders in way items were entered. It may not be how you want them displayed. lf you have a bunch of items, it may be easier to "manage" if they are in a particular order (eg. alphabetical). If you have 3-4 slips, it may not be an issue. But if you have lots of small T3/T5/.., organizing them in a particular manner may help. And if you can sort or re-order in almost any software (spreadsheet, word-processing, contact mgr, etc..) why not in tax software? Would lover to hear from uFile personnel on this...
  3. I click top-tab "2-interview", then on the LHS under "interest, investment income and.." it shows the various tax slips that I have entered. Some carried forward for past n-years, some new. Is there a way to re-arrange the order of these slips? eg. currently my slips show as: T3 - TD asset management T3 - TD canada trust T3 - RBC investments T3 - bank of montreal T5 - XYZ bank T5 - HSBC bank group etc... I would like to re-order them so they would be (say for example) in Alphabetical order? Or from highest amount to lowest? Is there a way for me to "move" those slips manually eg. with my mouse, select "T3 - bank of montreal" and move it to top? Grab "T3 - TD asset management" and move to bottom? I know you can delete and re-enter them. But I don't want to delete everything and start from scratch. PS: if there is a technical way to do this (eg. open .u19 file with some software, modify certain parameters, etc...) OR export to a particular format, re-arrange, import back - I am OK with that, if it can be done. Thanks for assistance.
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