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CCPC one month extension

#1 User is offline   accountantwong Icon

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Posted 07 October 2008 - 04:41 PM

Does anyone know how to change (without overriding) line 896 on the T2 schedule?
The question for this line is "If the corporation is a CCPC throughou the year, does it qualify for the one-month extension of the date the balance of tax is due?"
The default is "NO" and I can't seem to figure out how to change it to "YES"
I read the Profile and it says S49 prior year reduced business limit has to be entered and 5 year tax summary Part I tax small business deduction in prior year has to be filled in. These two amounts are filled in but it still says "NO" for line 896.
Please help as this has already caused two of our clients interest.
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#2 Guest_Nathan@Intuit_*

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Posted 07 October 2008 - 06:54 PM

Hi there--this sounds like a known issue that was resolved in the last release (2008.0.0). You're likely on an older version than that one. If you are running 2007.7.0, you can view the details and the workaround in the Online > Update Information > Known Issues menu item in ProFile (see the item called "CCPC one month balance due extension not calculating correctly"). If you are in 2008.0.0 the item will appear in the Online > Update Information > What's Fixed option. You can either download the latest version, or use the workaround.

Hopefully this solves your problem.

Thanks.
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#3 User is offline   nmb Icon

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Posted 10 October 2008 - 03:14 PM

View PostNathan@Intuit, on Oct 7 2008, 02:54 PM, said:

Hi there--this sounds like a known issue that was resolved in the last release (2008.0.0). You're likely on an older version than that one. If you are running 2007.7.0, you can view the details and the workaround in the Online > Update Information > Known Issues menu item in ProFile (see the item called "CCPC one month balance due extension not calculating correctly"). If you are in 2008.0.0 the item will appear in the Online > Update Information > What's Fixed option. You can either download the latest version, or use the workaround.

Hopefully this solves your problem.

Thanks.


FYI - I'm using the most recent version (2008.0.1) and still have a problem with this when the prior year's SBD is "nil" on the 5 year carryforward - ok if client is still a nil or loss in current year, but this still needs to be fixed and tied to the question on the "info" input page.
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#4 Guest_Nathan@Intuit_*

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Posted 10 October 2008 - 09:40 PM

View Postnmb, on Oct 10 2008, 09:14 AM, said:

FYI - I'm using the most recent version (2008.0.1) and still have a problem with this when the prior year's SBD is "nil" on the 5 year carryforward - ok if client is still a nil or loss in current year, but this still needs to be fixed and tied to the question on the "info" input page.


Is this flagged in your Auditor?
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