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Level 2
posted Mar 30, 2023 7:17:07 AM

investmet tax credit

I use Turbotax Premier English desktop version. for Canada

My problem

It is calculation of Investment tax credit – line 41200 on CRA T1 general form.

I got T5013 slip and on column 194 amount is $ 21088.42

Detail calculations are on form INVESTMENT TAX CREDIT (INDIVIDUAL)

Part B line 67170  - 21088.42 * 0.15 = $ 3163.26

 

Part D -  line F = $ 3163.26

               Line G = $ 20327.50

 

Line H – minimum of Line F and Line G -  should be $ 3163.26  but it shows $ 1994.90

 

This is the amount reported on T1- general form

 

This amount is WRONG –

 

Any suggestions?? 

 

I did call Intuit but they do not seem to understand ITC- have very poor knowledge !!

 

 

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1 Replies
Intuit Alumni
Apr 6, 2023 8:44:33 AM

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