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posted Jun 27, 2020 6:32:18 PM

Corporation Purchased shares of another Corporation

My holding company (holdco), purchased shares of a an operating corporation (opco) in 2019.  I'm just doing my holdco taxes, where in the T2 do I put the share purchase of the opco shares?

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Level 6
Jul 3, 2020 7:55:51 AM

Hi, thank you for using Intuit TurboTax Community

If the filing corporation has an associated corporation, Canada Revenue Agency may require the completion of applicable schedules: schedule 9 for example.

TurboTax has a worksheet- RACDetails- to enter information in one place. There is a section on RACDetails for required information needed to complete schedules 9 and 23. TurboTax Business Inc does not contain schedule 49.

More information about associated corporations can be found at the following link:

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4012/t2-corporation-income-tax-guide-chapter-2-page-2-t2-return.html

Hope this helps