Form T1135 Won't Allow 0 Cost amount at year end, Potential Bug

[alanDoingTaxes]

Hi,

I'm working on the Foreign Income Verification Statement (T1135). I have several Foreign Properties that are Shares of Non-Resident Corporations, but some were sold in their entirety in this tax year. This means the "Cost amount at year end" should be zero, but when I enter "0" into this field, TurboTax won't let me save the entry and gives me a "Please check the box or adjust amounts entered".

This seems like a potential bug (just need to remove a 'costAmountYearEnd != 0' somewhere?), and it's blocking me from completing T1135 properly.

-Alan

[alanDoingTaxes]

Note that there is no box to check, in reference to the error message "Please check the box or adjust amounts entered".

[TurboTaxBrenda1]

There is a work around at this time if you want to put 1 cent it will go through. The team is looking at this issue and we will update where there is a fix.

Thank you for choosing TurboTax.

[generaljaf]

On a similar theme, I had an income of negative 24. I tried both -24 and (24) and neither work. The error I get is "Incomplete fields. If nil, enter 0".

Help! Thanks in advance!

[TurboTaxGinette]

First, could you please clear your cache, sign out of your return then restart your computer? Sometimes after trying to correct things a few times, it creates problems. If you still cannot enter your information, we believe your best option is to contact our telephone support team for further assistance, as they have the option to view your screen to help resolve the issue. To contact them, please follow this link: Contact Us. When the system asks if you want an email say NO to speak to a representative.

​​​​​​​Thank you for choosing TurboTax.

[generaljaf]

Hi,

I tried both of those and a variety of things the woman on support asked me to try (I was sharing screen with her). She was clearly searching your internal debug flow charts, forums, help files, google and whatever (likely most of the same stuff I had already tried before contacting her). I asked for a technical person but no luck. Eventually the connection dropped and I couldn't get back in so I gave up and ended up having to use section 7 instead of section 2 as a workaround (not ideal).

I also pointed out that the T1135 from last year wouldn't list more than 5 stocks in the final submission and was worried I'd get in trouble again this year. We never did resolve that either.

Cheers.

[TurboTaxBrenda1]

Thank you for the feedback. Have you tried entering the .01 cent?

Thank you for choosing TurboTax.

[generaljaf]

No, my problem is I couldn't enter -24, not zero. I was responding in this thread because it was the closest one to my problem and thought the bug might be related.

[TurboTaxBrenda1]

You cannot report a negative value as a foreign income on T1135. The income on this form refers to gross income, not net income. You can report a negative value on the cap gain (loss) box.

Use form T776 to claim the expenses against your rental income. The T1135 amount will not be transferred to your return, it is for information purposes for CRA. 

Thank you for choosing TurboTax.