Sale of Corporation with deferred payments

[clemansu]

Sales of corporation in 2022 with payouts over three years.  Do I record the full Sale on 2023 Schedule 3 and then use T2017 to report the reserve?

[TurboTaxGinette]

This question should be answered by the Canada Revenue Agency (CRA). You can contact them by calling 1-800-959-8281. They may have other information required to correctly include this sale in your return as there may be a need of adjustments to prior years.

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[clemansu]

Thanks, spent over 3 hours on phone with CRA and they had me going down a rabbit hole.  Was hoping a simple question to what value Should go on Schedule 3.  Thanks for trying

[TurboTaxGinette]

For guidance and steps, we believe your best option is to contact our telephone support team for further assistance, as they have the option to view your screen to help resolve the issue. To contact them, please follow this link: Contact Us. When asked if you wish to receive an email say NO then say "speak to a representative" then hold the line. 

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