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@Kron8  I'm not a tax expert, so I wouldn't be able to advise you of what the best way for you to pay yourself from your corporation.   But if you are using TurboTax Online, the fee is based on what you enter, and if you have no slip for your income, you might need to enter it as Self-Employed income.   If you are using TurboTax Desktop, all versions have the same tax forms, but offer different levels of guidance. So, if you are not familiar with tax forms, you might need a higher version - like Home & Business for Self-Employed income.

There was an update to fix the problem. Please go back to the Childcare section and review the Ontario CARE credit section as that page might be different then what you saw before.   If you are still seeing the error, please clear your browser cache (or use a different browser) and try signing into TurboTax with this link: https://ww1.2024.ca.turbotaxonline.intuit.com/secure/interview?_action=reset   Thank you for choosing TurboTax.

Hi, I do not know, what are the pros and cons if you have a net loss? My previous accountant suggested a management fee rather than salary or dividends. The corporation owns my investments, which have a capital loss that will offset future capital gains. Thanks

@swingdummy  @TedN1    I've sent you a private message. You can check your private messages by logging into the community and clicking on the envelope icon on the top left of the page.   Once you've written your reply message, if you don't see the "Reply" button, use the tab key on your keyboard.

First enter your Capital Gains for the year. Then go to the Losses section & check off "Net Capital Loss Carry Forward". Continue until you get to that page. Enter your capital losses from previous years and then click Continue to get to the page where you can enter how much of the loss carry forward you want to use for the current year.   You can only use a maximum of whatever your taxable capital gains are for the year. Remember that only 50% of your total capital gains are taxable, and that's reduced by any losses that you had in the current year (before any previous year's losses are applied).     

If you are using TurboTax Desktop, please make sure that you don't have any Forms open in Forms Mode that you don't need.     If you are still not able to resolve this issue, please contact our phone support team for more assistance.   

If you started your business in in 2024, your first fiscal period ends in 2025, and you will report a business income for the first time in 2025, fill in the T1139 form to request an election for your 2024 return. You would then report your business income in 2025. But in 2025, you'll not only be reporting income from your first year of business, you'll also be reporting the income from your year end up to Dec 31. So, you would be paying tax on 18 months of income, which may put you in a higher tax bracket. You may want to speak to an accountant or tax expert before choosing to do this.  

Yes, I understand that the gross-up factor for dividends has changed in the past.  However, my point was that for any given year, the gross-up factor and dividend tax credit rate would be the same, so I still cannot understand why Turbotax Desktop requires its users to manually input 3 amounts for a single item of income.  It would spare users a lot of time and sore eyes, as well as the chance of human error, not to input the 2 extra set of amounts if Turbotax just incorporates the automatic calculation into the software.  Also, why is the automatic calculation available for Turbotax Online, but not Turbotax Desktop?   I have been a Turbotax user for many years, and before that, I used a competitor.  I switched to Turbotax even though it was more expensive at that time because I thought Turbotax is more "sophisticated", but in recent years, I am beginning to realize this may not be the case, judging from the required manual entry of 3 amounts for each dividend income source, to the limit of 5 lines on the T1135 for Part B(2).  I am sure there are many more.  If Turbotax wants to remain competitive with the many other choices its users have these days, it needs to listen to its users.  The complaint about the 5-line restriction on the T1135 for Part B(2) has been going on for many years.  How Turbotax thinks it makes sense to provide 40 lines for Part B(7) but not for the more commonly-used Part B(2) does not seem to make too much sense, especially after all the complaints received over the years.  At the very least, why not move some lines from Part B(7) to Part B(2)?  This has been a user request for many years, and suggesting that the user manually file the T1135 while netfiling the T1 is making things more complicated for the user.   I would like to stay with Turbotax so the above comments are made with the sincere interest of making the product better.  I would think these are simple fixes, so hopefully, Intuit will listen to its users before they start to switch to competitors, as many have written about in this community.  2024 T1 season was already hectic with all the Netfile errors and other issues that were outside of Turbotax's control, but it would have been a lot smoother had there not been these issues with Turbotax Desktop.  I will have to check back in January 2026 to see if any improvements have been made before deciding what software to use for 2025.