Can someone please explain how Quebec line 252 gets filled in? Help says it is completed automatically from T-slip data but I don't see any connection between this value and T-slips (except that it is affected by investment income from T-slips). It's also referenced on Schedule N, line 70 "(see line 252 in the Guide)". Revenu Quebec description is not very clear either.
I'm thinking that it comes from the amount calculated on Schedule N, line 80 in the previous year's return. If this is the case, then why doesn't TurboTax Help say so? I had a carry-forward amount from 2015 on Schedule N, line 80, that then appeared on Line 70 for 2016. Turbotax seems to have used that to calculate the entry for line 252 based on available "deduction room" between 2016 investment earnings and expenses, but that claim was subsequently denied by Revenu Quebec! CNIL calculation on TP-726.6-V is also implicated, but the relationship between the numbers is difficult to follow.
TP1 - Line 252 - This is calculated automatically by TurboTax, based on amounts you have entered through the T-slip and relevé slip entry screens.
As quoted by RQ “The amount you carry to line 252 cannot exceed the difference between your investment income and your investment expenses. The unused portion of the adjustment of investment expenses is equal to the total of the amounts entered since 2004 on lines 40 and 64 of Schedule N, minus the amount already used to reduce your investment income for a previous year.”
Please click on the link below for more details from Revenu Québec: https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completi...
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