I am incorporated in Alberta and have been using Turbo Tax Incorporated 2015-2016 for filing my first-year tax returns.

[Amit2]

I have a couple of questions for which all assistance will be appreciated. 

a) I have filled up the GIFI schedule and clicked in the "Info Form", Complete Return from GIFI, however the line does not auto-populate the column of Gross Revenue. Do I have to manually fill it in ?

b) Where can I add the Home Use expenses ? 

c) Where do I add startup expenses ? I understand there is a separate form for it. 

[Delphision · Accepted solution]

Corporate returns are very complex and require certain things in the beginning stages.  You first corporate return starts at the date of incorporation and ends where you want you first year end to be.  For example, if you incorporated on the 15, July 2015 and want your year end to be September 30.  Your first return would only report that stub period.  It can also be as little as a few days, if you wanted a July 31 year end.

The first return is usually a nil return if the period is short.  It will show the purchase of shares by the shareholder on schedule 101. If you don't know what your shares should be recorded at, check the incorporation application, and Register of Directors. 

Start up costs can be entered, if applicable in that time period, in which case, your first return will show a loss.  It is the first filing that sets your year end.  Choose carefully, it is a problem changing it later, requiring a good reason, permission to do so from CRA and another short stub filing. 

You will need to add your personal details as director to Schedule 50.

I highly recommend finding someone local who can do T2's and can sit down with you and help you with it.