Hi, thank you for using Intuit TurboTax Community If you are a sole proprietor, the business is filed as part of your T1 personal tax return using for example form T2125. For a corporation, a T2 return must be filed every year. A corporation is a separate entity from shareholders and must therefore file it's own tax return. So a T1 for personal income and a T2 for a corporate return. TurboTax has products for both these filings. Hope this helps ... View more

Hi, thank you for using Intuit TurboTax Community If the filing corporation has an associated corporation, Canada Revenue Agency may require the completion of applicable schedules: schedule 9 for example. TurboTax has a worksheet- RACDetails- to enter information in one place. There is a section on RACDetails for required information needed to complete schedules 9 and 23. TurboTax Business Inc does not contain schedule 49. More information about associated corporations can be found at the following link: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4012/t2-corporation-income-tax-guide-chapter-2-page-2-t2-return.html Hope this helps   ... View more

Hi, thank you for using the Intuit turboTax Community Generally investment income is considered passive income and therefore not eligible for the SBD. There are exceptions. The following Canada Revenue Agency link has more information: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4012/ t2-corporation-income-tax-guide-chapter-4-page-4-t2-return.html#P2883_209821 Hope this helps   ... View more

Hi, thank you for using Intuit TurboTax Live Community Unlike the T1 return there are not slip screens in the T2 TurboTax. The income flows from schedule 125 where income is reported, then other forms must be reviewed such as schedules 3,6 and 7. These and other schedules may be required depending on the source of the income reported on the T3 slip. Hope this helps   ... View more

Hi, thank you for using Intuit TurboTax Live Community The 2018 TurboTax business incorporated can be used to prepare a T2 with a year end up to October 31, 2019. So for a year end of October 1 2019 a 2018 TTBInc would be appropriate. Hope this helps ... View more

Hi, thank you for using TurboTax Live Community Eligible dividend gross up from actual dividends does not apply to corporations. Because of this corporations only record the actual amount of dividends, not eligible dividends. Usually a trust(T3) would only report eligible dividends to a payee who is either individuals or Trust. Corporations are not able to claim a dividend tax credit either. This is mentioned on page 51 of the T3 guide: https://www.canada.ca/content/dam/cra-arc/formspubs/pub/t4013/t4013-19e.pdf Hope this helps   ... View more

Hi, thank you for using Intuit TurboTax Live Community CRA requires the contributions for Jan to Mar 2019 to be entered on the 2018 T1 return. If you look at the schedule 7 you will see the allowed contributions that can be entered on the return for the year. If you have contributions for Jan to Mar 2019 that were not entered on the 2018 return, you can amended/refile the 2018 return to include them. Hope this helps ... View more

Hi, thank you for using Intuit TurboTax Live Community Generally all rental income from a property you own is reported on form T776. The income and expenses can be reported on this CRA form. TurboTax has a great article for rental income: https://turbotax.community.intuit.ca/community/other-income/help/how-do-i-enter-my-rental-income-and-expenses-in-turbotax/00/873580 Hope this helps ... View more

Hi, thank you for using TurboTax Live Community Usually the red X would indicate there are outstanding audit messages. Try to review the warning messages proved by the TurboTax audit feature Hope this helps     ... View more

Hi, thank you for using Intuit TurboTax Live Community HOOPP would usually be retirement income. If there is income from HOOPP it should be reported on a T4A slip. It would not generally relate to an RRSP contribution. Check with HOOPP to see if they will issue a T4A. Hope this helps ... View more