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Prior year income tax recovery

#1 User is offline   louiskam Icon

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Posted 14 March 2010 - 02:04 AM

Due to last year's operation loss, the taxpayer have a portion of its 2006 income tax recovered. Can't seem to find a default "Prior year income tax recovery" code or similar in Profile T2's schedule 100 or 125 to account for this amount. Any suggestion?
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#2 User is offline   unknown Icon

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Posted 14 March 2010 - 03:27 AM

The code you are looking for is the current income taxes code....

kinda surprised you are asking this question?

Who are you, and what have you done with Louis?
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#3 User is offline   Vivian Mitchell Icon

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Posted 14 March 2010 - 03:58 PM

Quote

I recognized the problem immediately.....it happens to "senior" Senior Members!
The work-around can be difficult!
Vivian,
a "senior" Junio



I recognized the problem immediately.....it happens to "senior" Senior Members!
The work-around can be difficult!
Vivian,
a "senior" Junior Member
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#4 User is offline   Vivian Mitchell Icon

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Posted 14 March 2010 - 04:04 PM

It also makes it look like you said the same thing twice
Vivian
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#5 User is offline   louiskam Icon

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Posted 16 March 2010 - 02:01 AM

The recovery amount is shown in negative form in S125's code 9990 alright. Just see if I miss any other there. Thanks.
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#6 User is offline   louiskam Icon

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Posted 16 March 2010 - 07:13 PM

I apply #1066 for the current year one only and #1483 for all the prior year ones. Thanks again.
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#7 User is offline   Rob D Icon

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Posted 07 July 2010 - 01:57 PM

I have a similar situation where we received a tax refund going back a couple of years due to a loss last year. I can see why you may want to show it as part of the balance sheet with 1066 and 1483, but don't you also show it as income/revenue? Since I'm not importing the GIFI info do I manually have to input it into 9990? And does it matter that in our case we have already received it so isn't it really income?
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