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No active business income


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I have a holding company that earns only investment income (interest, dividends, capital gains, rental). There is no active business income, but the uFile T2 interner version software assumes that we are entitled to the active income deduction on schedule 7, which is incorrect. Can i choose somewhere to say that none of our income is active business income? Where do i make this choice? Last year we were assessed this and it caused major delays.

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Hello timpepper,

UFile T2 does not support your type of corporation.

We do have a professional tax software and we invite you to contact us regarding our offering :

 

Sales Department

1 866 653-8629

DT-sales@thomsonreuters.com

DTMax Overview:

https://www.thomsonreuters.ca/en/dtprofessionalsuite/products/dtmax.html

 

DTMax T2 :

https://www.thomsonreuters.ca/en/dtprofessionalsuite/products/dtmax/dtmaxt2.html

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Thank you your response. 

Actually, I just figured out how to do it using UFile T2. In the Interview section, there is a heading called "Income Source". In that block, one can characterize previously reported income as "Other Property Income" which would then be included on Schedule 7 for purposes of excluding it from small business active income.

Thanks anyway, I'm sure that DTMax product is very good, albeit unnecessary for my needs.

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