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Geo123

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Everything posted by Geo123

  1. Hello Winston Ottawa, Please contact UFile Support so we may review the file confidentially. Please include above note. Please open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us
  2. Hello danjjj, UFIle does not relate the T776 to the T2125. Please check beginning and end dates. 01-01-2023 to 31-12-2023 Please check if you have two T2125's or T776’s entered by mistake Also check : Tick if this is the first year of operations (or last) IF applicable
  3. Hello danjjj, Please check beginning and end dates. 01-01-2023 to 31-12-2023 Please check if you have two T2125's or T776’s entered by mistake Also check : Tick if this is the first year of operations (or last) IF applicable
  4. Hello BakerSteve, You are welcome.
  5. Hello Russell Harper, You can switch from UFile ONLINE to UFIle Windows however you will have to enter all the carryforward amounts manually.
  6. Hello Mark Power, You should consult an accountant to create an income statement and determine what items to expense and what items to capitalize. FYI - Current expenses or capital expenses Renovations and expenses that extend the useful life of your property or improve it beyond its original condition are usually capital expenses. However, an increase in a property's market value because of an expense is not a major factor in deciding whether the expense is capital or current https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/current-expenses-capital-expenses.html To enter information about your rental income, follow the steps below: 1. On the "Left-side menu on the Interview tab", select "Interview setup". 2. On the page that appears to the right, go to the "Rental income" group, check the box "Rental property income" also if you paid tax by instalments. Then go to "Tax paid by instalments and tax transfer" group, check the box "Tax paid by instalments and tax transfer" and click "Next" at the bottom of the page. 3. Return to the "Left-side menu on the Interview tab", select "Rental Income". 4. On the page that appears to your right, click on the plus sign "+" icon to the right of the line "T776 - Rental Income property". 5. Complete the first page entitled "T776 - Rental property identification". On the line for "Percentage (%) of personal use of your rental property", enter your personal use portion of the building. If you do not live in the building, leave the field blank. (If you are the co-owner of the building with your spouse see point #11) 6. Please indicate whether you are sole proprietor or co-owner of the property, to do so, go to the "Type of ownership of the rental property" line and select the option that suits you best from the drop-down menu. Then, on the line "Percentage interest in the partnership" enters your percentage. 7. On the next page, enter your income and expenses in relation to this property. 8. If you used the services of a professional contractor to repair your building, use the sub-section "Labour costs" to enter the relevant information. Please make sure in this subsection that the amount of repair has not already been entered in the expenses beforehand: make sure to choose the appropriate option from the drop-down menu for the line "Do you wish to add these labour costs as an expense on the income statement". 9. If you want to claim depreciation for your property, click on the "CCA" sub-section and select the appropriate class, usually Class 1. 10. On the page that appears, enter the relevant information. If you do not want to claim depreciation, go to the line "Limit to the CCA" and enter "$0.00". However if you wish to claim a portion of the depreciation or any other amount, it is limited to the maximum amount of this category. Please note that you cannot claim CCA when you have a rental loss. 11. If you are the co-owner of the building with your spouse or other partner, click on the sub-section "Partners", and on the page to the right, choose your option. 12. If your spouse is a co-owner of the rental property and completed his or her tax return along with yours, there is no need to enter the information in your spouse's file, as it will be transferred by the program and form T776 will be generated. The same applies for a resident of Quebec and form TP-128 will be produced by the program. However, if your spouse wants to claim expenses different from yours, all the information will then have to be entered again separately in his or her own file. For all other business partners, they will have to enter the information in their own file. Forms T776 (federal) and TP-128 (Quebec) will be generated by the program. The amount of rental income will be reported on line 12599 (gross) and line 12600 (net) of the federal return and, for Quebec residents, on line 168 (gross) and line 136 (net) of the Quebec return. For more information, please consult the CRA website at the following link: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/rental-income-line-126-net-line-160-gross.html https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4036.html For Quebec residents, you can consult the Revenu Québec website at the following link: https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completing-your-income-tax-return/line-by-line-help/96-to-164-total-income/line-136/ https://www.revenuquebec.ca/fr/services-en-ligne/formulaires-et-publications/details-courant/in-100-v/
  7. Hello Sanjay, For other years please go to this URL : https://www.ufile.ca/products/ufile-cvitp
  8. Hello Calio, Glad to hear it, you are welcome.
  9. Hello Guest28, Please consult a tax advisor or contact the CRA Please contact the CRA at 1-800-959-8281 CRA https://www.canada.ca/en/revenue-agency/corporate/contact-information.html
  10. Hello ChrisE, One or more entries in your tax return require correction. The data entered is either invalid, or mandatory information is missing. If you are unable to resolve the issues, please contact your Software provider.< = = NOT software issue / is data entry issue
  11. Hello maryambari, Any overpayment to CPP will be refunded to you on line 44800. In this case, you may ignore the message and proceed to NetFile.
  12. Hello JRMDLF, If message is : [] [] [] [] [] []Keeps loading >>Keeps loading >> must click Next in CRA window If you cannot autofill, there are many issues you have to verify before: *If you have the message “loading…”on the UFILE screen, have you clicked “Next” on the secondary screen that opens from the CRA – may be hidden behind your active screen. *Make sure your password and access is up to date with the CRA website. *Make sure no anti-virus or firewall is preventing download. *Temporarily disable your VPN (if you have one). *Make sure your TLS 1.1 and TLS 1.2 are checked in the security settings of the Control Panel. OR the CRA Servers are overloaded. Try again at off peak hours.
  13. Hello georgi51, Make sure you are using the latest NAC and not the prior year NAC (which may have been carried forward). Your unique Access code (8 characters) can be found on your Notice of Assessment (NOA) for a previous tax year. This eight-character Access code is made up of numbers and letters and is located on the right side of your NOA. The placement and labelling of the Access code differs slightly depending on the version of the NOA you are looking at, but will always be on the right side of the NOA. On the paper version of your NOA as well as the PDF version in My Account, the Access code is not labelled, but can be found directly underneath the Date issued at the top right of the page. If you are viewing your NOA in My Account or using the Express NOA service in certified tax software, the Access code is found directly under the Notice details box at the top right of the page. OR Call the CRA 800-959-7383 The NAC is not required to NetFile. While this Access code is not mandatory, if you do not enter your Access code, you will not be able to use any information from your 2023 tax return when confirming your identity with the Canada Revenue Agency. You will have to rely on other information for authentication purposes.
  14. Hello aidanrowe, Please contact UFile Support so we may review the file confidentially. Please include above note. Please open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us
  15. Hello anthrax, The Canada Revenue Agency cannot process this ReFILE adjustment as submitted. Please sign in to My Account or consult your most recent Notice of Assessment or Notice of Reassessment for your latest return information. If you require assistance, please call the Canada Revenue Agency's Individual income tax and trust enquiries line at 1-800-959-8281. >>603: This usually means that your return hasn't been assessed yet. If no other items in the ReFILE exclusion list apply to you, try again in a few days.
  16. Hello Kyle, Eligible medical expenses you can claim on your tax return https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/lines-33099-33199-eligible-medical-expenses-you-claim-on-your-tax-return.html
  17. Hello Craig M, apartment conversion to rental Rental - Changing all your principal residence to a rental or business property - subsection 45(2 When you change your principal residence to an income producing property, such as a rental or business property, you can make an election not to be considered as having started to use your principal residence as a rental or business property. This means you do not have to report any capital gain when you change its use. If you make this election: // To make this election, attach a letter signed by you to your income tax and benefit return of the year in which the change of use occurs. Describe the property and state that you want subsection 45(2) of the Income Tax Act to apply. If a Quebec tax return is also being filed, a copy of the election should be sent to Revenu Quebec. Upload this letter to your CRA workspace before netfiling your return. Describe the property and state that you want subsection 45(2) of the Income Tax Act to apply. // https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-127-capital-gains/principal-residence-other-real-estate/changes-use/changing-your-principal-residence-a-rental-business-property.html
  18. Hello Sue LaursenE, Please see below.
  19. Hello JComber, Please contact UFile Support so we may review your account. Please include above note. Please open a request ticket on-line at https://www.ufile.ca/contact/contact-us
  20. Hello MajidA, You must first apply your tuition to the prior years via a REFile and determine the carry forward amounts to 2023.
  21. Hello thirdeyeblind, You are welcome.
  22. Hello Slowe11, Pension Split The program automatically processes the tax you already paid on the eligible pension income in proportion to the elected split-pension amount. This result is on : Spouse Return : Elected split-pension amount [11600 ] Family Head Return : Deduction for elected split-pension amount [2100] The calculation can also be viewed in Step 5 of the federal T1032 form, available under the "Tax Return" tab. To view the optimization and savings for the pension split pleas refer to the report “Report on split-pension income”. The split is not always optimal at 50%, and this report will show you with and without the allocation. Report on split-pension income – 2023 Checklist - Medical expenses Report on split-pension income < - - - HERE Report - tax savings reconciliation Worksheet (Federal) p1
  23. Hello gordie, Please check if you have any other username / E_Mail for the prior year. ELSEPlease contact UFile Support so we may review the account. Please include above note. Please open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us
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