timpepper Posted June 25, 2022 Report Share Posted June 25, 2022 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. Quote Link to comment Share on other sites More sharing options...
Geo123 Posted June 27, 2022 Report Share Posted June 27, 2022 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 Quote Link to comment Share on other sites More sharing options...
timpepper Posted June 27, 2022 Author Report Share Posted June 27, 2022 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. Quote Link to comment Share on other sites More sharing options...
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