There have been many posts in this community from several years complaining about the limited number of lines available for Part B(2) of the Form T1135 for "shares of non-resident corporations". Initially, it appears there were only 3 lines available, and now it has 5, but there is no option to add more lines. In contrast, Part B(7) "property held in an account with a Canadian registered securities dealer or a Canadian trust company" has close to 40 lines.
1. Given that it is not uncommon for users to have shares of more than 5 non-resident corporations, is Turbotax planning to fix this limitation? If yes, when? This issue has been raised for many years and each time, the response has been the issue has been forwarded to the development team, but unfortunately, there has been no resolution for at least the past 5 years?
2. If a Turbotax user has to report more than 5 companies in Part B(2), is it possible to answer "YES" to the T1135 question in the first few pages of the T1 General, but only netfile the T1, but not netfile the T1135? This way, the user has the option to paper-file the T1135 separately, using CRA's fillable form available online?
3. If a Turbotax user has to amend a T1135 that has already been netfiled, does the user have to wait until he/she receives the notice of assessment for the T1, or can an amended T1135 be netfiled even before the T1 assessment notice is received, since the T1135 is filed separately anyway and no assessment notice is issued for the T1135 in the normal course?
Thank you.
Sign In
Canada (English)
EN
