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wpgman79
New Member

How do you stop a T4A going to a closed down business instead of a currently operating one?

Had 2 businesses, shut down one in 2015, in Turbotax 2016 we clicked final year of operation. Got a T4A from current business for tax year 2017. Deleted dead business, but when we type in the info for the T4A, the dead business shows up with revenue from the T4A. Even when we type in the forms directly from the current business. What can we do to stop this?





2 Replies

How do you stop a T4A going to a closed down business instead of a currently operating one?

You can enter the T4A information directly on your new business and you don't have to use the T4A slip to report the information.  As long as the information is entered on the right business form, you will be alright.

wpgman79
New Member

How do you stop a T4A going to a closed down business instead of a currently operating one?

Unfortunately it still goes to the old business when putting directly on the forms for the new business, but it does seem like a glitch in the software.  Found a workaround here https://turbotax.community.intuit.ca/questions/1709888-i-have-2-t4a-s-2-t2125-turbo-tax-is-combining... that says

In this situation, the best you can do is to make an entry in the T2125 business schedule where the wrong Box 20 amount was entered, make an entry called "Box 20 adjustment" equal to the Box 20 amount entered incorrectly in this T2125. This will net out the amount from this T2125.  Then, you can enter manually under "other income" in the second T2125 the amount from the Box 20 that you want to have included in the second T2125.  This procedure will arrive at the correct reporting result that you are trying to achieve.