[DaveM]

I often see T5013s for limited partnership units owned jointly by spouses. Is there any reason why the "% reported by spouse" feature on T3s and T5s could not be added to the T5013?

[Hardev@Intuit]

DaveM, on Mar 22 2007, 03:09 AM, said:

I often see T5013s for limited partnership units owned jointly by spouses. Is there any reason why the "% reported by spouse" feature on T3s and T5s could not be added to the T5013?

Hello Dave:

I have forwarded your suggestion to Profile FX Development Team and this has been included in the list of features to be implemented in a future release of Profile.

Thank you for your suggestion.

Regards,

Hardev Koonar
Intuit Canada

[ChrisG]

I raised this issue last year and did not get much sympathy. One strange strange thing that did happen last year relating to reporting amounts on a T5013 was that the CRA disallowed the splitting of the provincial exploration credits, but allowed the 50/50 split of everything else. It did not result in a difference in the combined tax payable and I was busy at the time so I did not pursue it. Will do some research now that you brought this up again. The 5013s are a pain since many of them are not coded correctly and they arrive at the end or even after the tax season.

[Dink Meeker]

ChrisG, on Mar 22 2007, 10:58 PM, said:

I raised this issue last year and did not get much sympathy. One strange strange thing that did happen last year relating to reporting amounts on a T5013 was that the CRA disallowed the splitting of the provincial exploration credits, but allowed the 50/50 split of everything else. It did not result in a difference in the combined tax payable and I was busy at the time so I did not pursue it. Will do some research now that you brought this up again. The 5013s are a pain since many of them are not coded correctly and they arrive at the end or even after the tax season.

I have always found it oddly redundant that two individuals want to share their stake in a partnership by halving the information on a form that was specifically designed to present each investor's portion.

Why don't they each purchase shares? http://www.planetsmilies.com/smilies/confused/confused0011.gif


And I agree Chris, most of them are prepped incorrectly.

[Arliss]

Hardev@Intuit, on Mar 22 2007, 06:57 PM, said:

Hello Dave:

I have forwarded your suggestion to Profile FX Development Team and this has been included in the list of features to be implemented in a future release of Profile.

Thank you for your suggestion.

Regards,

Hardev Koonar
Intuit Canada

How about the Profile T1 Team?

[spenceh]

Dink Meeker, on Apr 12 2007, 02:52 PM, said:

Why don't they each purchase shares? [img]

Joint allows right of survivorship and bypasses probate...

[Dink Meeker]

spenceh, on Apr 12 2007, 10:55 PM, said:

Joint allows right of survivorship and bypasses probate...

Just a sidedish of venting peppered with a dash of sarcasm...... ;)


BTW, Helga, that can still be accomplished without physically splitting T slips.

[Rayofsunshine]

I have to agree. It would be great to have that split feature on the T5013's as it is such a pain to do it manually. We have one client that has about 14 of these things.

[JohnNP]

there is no legal basis to implement this idea or this treatment

let this thread rest in peace