You need to input the values in Box 52 and 53 into the second boxes 52 and 53 on the tax program - NOT the foreign income boxes. All the errors will disappear and you will able to netfile.
Still trying to submit my return, and still encountering this issue. I have updated my Desktop version.....even tried uninstalling and reinstalling....no luck. Please help. UPDATE: Before en...
See more...
Still trying to submit my return, and still encountering this issue. I have updated my Desktop version.....even tried uninstalling and reinstalling....no luck. Please help. UPDATE: Before entering any values into Boxes 52 and 53 (which my T3 slip has none), my taxable capital gains in the Income Summary page was 0. That's the issue I think. You have to divide box 21 by 2, and enter that value in BOTH Box 52 and 53. When I did this, the taxable capital gains value on the Income Summary page was now 50% of Box 21. 50% is the 2024 Capital Gains Inclusion rate, so I think it's all good!
So I left the value I have for Box 21, divided that by 2, and entered that 1/2 value into Box 52 and 53. Result: no more error, BUT now my refund has gone down by a couple hundred dollars. I'...
See more...
So I left the value I have for Box 21, divided that by 2, and entered that 1/2 value into Box 52 and 53. Result: no more error, BUT now my refund has gone down by a couple hundred dollars. I'm no tax expert, but can anyone explain why this is happening? I thought Boxes 52 and 53 just showed what part of 2024 the Capital Gains (Box 21) came from.
The payment section should show you what you are being charged for.
Please see this TurboTax FAQ for more information on who can use Free:
Who can file for free using TurboTax?
Can you please provide more information about your problem? What is the exact message that you are getting? Are you using TurboTax Desktop or TurboTax Online?
You should receive a T2202 form, a TL11 (A, C, or D) form or a receipt that shows the eligible tuition that you've paid from your educational institution.
@micky5 You can look at the Canada/UK tax treaty here: https://www.canada.ca/en/department-finance/programs/tax-policy/tax-treaties/country/united-kingdom-convention-consolidated-1978-1980-1985.html ...
See more...
@micky5 You can look at the Canada/UK tax treaty here: https://www.canada.ca/en/department-finance/programs/tax-policy/tax-treaties/country/united-kingdom-convention-consolidated-1978-1980-1985.html
Or you can contact the Canada Revenue Agency (CRA) and double check with them.
If you are in Canada or the United States, you can call the CRA at 1-800-959-8281. If you are elsewhere, you can call 613-940-8495. This page has more ways to contact the CRA: Contact the Canada Revenue Agency
@krahn-katelyn You would have to enter your grant amount in the Box 105 that fits your situation. As per the Canada Revenue Agency (CRA), student grants/bursaries whether full-time or part-time are n...
See more...
@krahn-katelyn You would have to enter your grant amount in the Box 105 that fits your situation. As per the Canada Revenue Agency (CRA), student grants/bursaries whether full-time or part-time are non-taxable. Other grants might be taxable or even considered self-employment income.
Please see this TurboTax Canada FAQ for instructions on how to add/remove the eligible dependant credit: How do I add or remove the amount for an eligible dependant from my tax return?
You might be able to use TurboTax Free Online.
Please see this TurboTax FAQ for more information on who can use Free:
Who can file for free using TurboTax?
If you haven't paid for your TurboTax Online return yet, you can just delete it. To start a new return, select “Start a New Return” from under “My Returns” in the bottom left corner. Once you ha...
See more...
If you haven't paid for your TurboTax Online return yet, you can just delete it. To start a new return, select “Start a New Return” from under “My Returns” in the bottom left corner. Once you have started your new return, you can select “View All Returns” from under “My Returns”. Then delete the unwanted return by clicking the small Trash Can next to it or “Delete” under the return’s name. You can buy TurboTax Desktop here: https://turbotax.intuit.ca/tax/software/desktop
Thanks for your answer but it doesn't really answer my question which asked whether the 2 entries for box 135 (one labelled BMU and the other labelled USA) were in USA or Canadian currency. Presumab...
See more...
Thanks for your answer but it doesn't really answer my question which asked whether the 2 entries for box 135 (one labelled BMU and the other labelled USA) were in USA or Canadian currency. Presumably the other entries on the form are in Canadian currency so I would be surprised if the 2 entries for box 135 were in USA currency. If everything is in Canadian currency, why not just aggregate the 2 amounts which is what my wife's tax accountant suggested. I don't think the CRA would care where the income came from but it would want to ensure that all entries on the T! were either in Canadian currency to begin with or converted to Canadian currency at some point. I aggregated the 2 amounts based on the advice of the tax accountant and the CRA haven't complained so far.
You would need to create a new return if you just want to prepare your own return separate from your partner/spouse's.
To start a new return, select “Start a New Return” from under “My Returns”...
See more...
You would need to create a new return if you just want to prepare your own return separate from your partner/spouse's.
To start a new return, select “Start a New Return” from under “My Returns” in the bottom left corner. Once you have started your new return, you can select “View All Returns” from under “My Returns”. Then delete the unwanted return by clicking the small Trash Can next to it or “Delete” under the return’s name.
You need to start a new return before you can delete your current return.
To start a new return, select “Start a New Return” from under “My Returns” in the bottom left corner. Once you have sta...
See more...
You need to start a new return before you can delete your current return.
To start a new return, select “Start a New Return” from under “My Returns” in the bottom left corner. Once you have started your new return, you can select “View All Returns” from under “My Returns”. Then delete the unwanted return by clicking the small Trash Can next to it or “Delete” under the return’s name.
Unfortunately, once you have upgraded or added features to your TurboTax return, there is no way to downgrade or remove the extra features. You would need to create a new return to go back to the ori...
See more...
Unfortunately, once you have upgraded or added features to your TurboTax return, there is no way to downgrade or remove the extra features. You would need to create a new return to go back to the original product.
To start a new return, select “Start a New Return” from under “My Returns” in the bottom left corner. Once you have started your new return, you can select “View All Returns” from under “My Returns”. Then delete the unwanted return by clicking the small Trash Can next to it or “Delete” under the return’s name.