after the last update, around Feb 20th, 2025, my AMT tax went up from before by about 20%. Is this due to the new changes (reversion) of capital gains inclusion rate in the latest update or something else? Maybe the T691 was not calculated properly prior to Feb 20? For example, prior to this date I had an AMT of $4700, and now it shows about $5700. Albeit, the total owing is about the same so maybe the schedule 3 tax went down (or maybe it is related to foreign dividend tax credit on T691?)
@questionsforever we suggest you to visit this link from CRA.
As per CRA, they are working diligently to update their systems to reflect the currently enacted capital gains inclusion rate of one-half. However, this update may not be completed when online filing becomes available on February 24, 2025.
This means, all forms related to, can have some wrong calculations. Some of these forms are completely locked. We're working hard to finalize these forms to align ourselves with CRA requirements.
We apologize for this inconvenient and suggest you to try filing your return later.
Thank you for choosing TurboTax.
questionsforever
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C Zhou
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cblack
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jl202304
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