[shirleytaxmaid74]

1) Do we enter box 42 from a T3 anywhere (adjusted cost base)?

2) T5 - if the T5 is in both spouses name, can one spouse claim the whole amount or do it have to be split 50/50?

3) Can one spouse transfer the T3 amounts over to the other spouse even if he is not named on the T3?

Any help would be appreciated, and cheers everyone, the deadline is looming!!!

[Joe]

shirleytaxmaid74, on Apr 26 2007, 12:29 PM, said:

1) Do we enter box 42 from a T3 anywhere (adjusted cost base)?
2) T5 - if the T5 is in both spouses name, can one spouse claim the whole amount or do it have to be split 50/50?
3) Can one spouse transfer the T3 amounts over to the other spouse even if he is not named on the T3?
Any help would be appreciated, and cheers everyone, the deadline is looming!!!

I can't think of a polite way to say this, sorry...

A Professional Tax Preparer should be completing this taxpayers tax return...


Pretty basic data entry, ROC, and attribution stuff...
.

[shirleytaxmaid74]

Joe, on Apr 26 2007, 01:35 PM, said:

I can't think of a polite way to say this, sorry...

A Professional Tax Preparer should be completing this taxpayers tax return...
Pretty basic data entry, ROC, and attribution stuff...
.

Thank you, that was very helpful :angry:

[RL Tax Joe]

shirleytaxmaid74, on Apr 26 2007, 03:14 PM, said:

Thank you, that was very helpful :angry:

I know you said that you were new to this and took some courses...but...

1. No, track the ACB of shares

2. Split should be based on who contributed the capital

3. See answer to #2

4. Order a copy of CCH preparing your Personal Income Tax Returns.

[Joe]

shirleytaxmaid74, on Apr 26 2007, 01:14 PM, said:

Thank you, that was very helpful :angry:

Or, to be more positive:
Ater first researching the requisite tax knowledge,
conduct a re-interview with the client to obtain the information you need to know about the client.
...

[shirleytaxmaid74]

Joe, on Apr 26 2007, 02:19 PM, said:

Or, to be more positive:
Ater first researching the requisite tax knowledge,
conduct a re-interview with the client to obtain the information you need to know about the client.
...

Thank you Mr. Joe,
I am new and have just survived my first tax season, lots of joy and a few griefs. It was only in the last day or so that any T3's came across my desk and since I am getting bogged down, I thought it would be easier to ask instead of researching. An honest simple answer would have sufficed, and my apologies for asking inane questions.

[Joe]

shirleytaxmaid74, on Apr 26 2007, 02:21 PM, said:

Thank you Mr. Joe,
I am new and have just survived my first tax season, lots of joy and a few griefs. It was only in the last day or so that any T3's came across my desk and since I am getting bogged down, I thought it would be easier to ask instead of researching. An honest simple answer would have sufficed, and my apologies for asking inane questions.

Aah - if you review my posts all over you will see that they are all simply honest.
Brutally simply honest.
Some would say simply Brutal.....

Obviously you are enthusiastic... and thats good... and you avoid a tendency to make assumptions... thats also good... you certainly are showing a desire to try to get it right..
However your questions do indicate a very basic and sketchy tax knowledge - If youve asked these type of questions, I would think youve likely got more than a few things wrong..-
Possibly better to slow down initially, do fewer of them and spend more time and care researching and reviewing each one... Or work with a mentor... and/or start off with shorter simple returns...

It is unethical to accept engagements which cannot be performed with professional competence, according to the Code of Ethics of the Accounting bodies...

Mmm - all that sounds very condescending... but thems my thoughts anyway..

.
.

[The Skuj]

Joe, on Apr 26 2007, 04:19 PM, said:

Or, to be more positive:
Ater first researching the requisite tax knowledge,
conduct a re-interview with the client to obtain the information you need to know about the client.
...

And not only that, we have identical threads for almost all of those topics. I can still recall the butchering of the individual who first asked whether they could "put all the slips on the lower income spouse"... :lol: