I sold QSBC shares (I am a tax lawyer, and am certain that the disposition qualifies); however, I cannot seem to claim the deduction using the turbotax software. I entered the capital gain, and then the software sets the maximum LCGE deduction at $0.00. I have never claimed the LCGE or an ABIL, and I have held these shares for over two years. The assets of the corporation also satisfy the small business corporation test.
Any insight or thoughts would be greatly appreciated.
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Did you have it figured out? Would love to know as I’m on the same boat, online software does NOT deduct the exemptions! Thanks and looking forward for your answer 🙂
Please see the TurboTax FAQ for guidance: Claiming the Lifetime Capital Gains Exemption (LCGE)
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