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capital gain deduction for qualified farm property

I entered a qualified farm property sale resulting in a capital gain on Schedule 3.

The program is not calculating the capital gain deduction. Any ideas why T657 is not calculating the capital gain deduction?

2 Replies
Anonymous
Not applicable

capital gain deduction for qualified farm property

Issue with Schedule 3 and some other forms linked to it has been reported. At this time, some CRA forms are still being reviewed by them for the 2024 tax season, which could explain why some calculations are not done correctly or do not appear. As soon as they are ready and received, TurboTax will be updated.

 

Thank you for your patience.

btopylki
New Member

capital gain deduction for qualified farm property

As of today the T657 automatically clicks yes in Step 3a to the "QFFP to your child in 2020" and in step 3b to the second question when neither of these apply to me.  If I over ride the questions to "No" the review process states that I will have to mail my return in.  In response to why the deduction is not being calculated inform the program users that the info in very top form has an incorrect carry forward to the eligible taxable capital gains reported in prior years which should equal the capital gains deduction to calculate the current years deduction properly.

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