Hi, In Quickbooks Protax T2, why does GIFI code 8691 Life Insurance on Executives not map to the non-deductibe life insurance expenses section on the T2? Thank-you.

Hello rgubic,

It's great to have you join us in the QuickBooks Community and awesome to hear that you're using the Pro Tax feature to compile and file T2s. I'm here to help clear this up so you can continue with your forms.

In this case, the program won't map GIFI 8691 to the non-deductable life insurance expenses section on the T2 because of the nature of the code. Since it's for life insurance on executives, it's going to map to a specific place, which is line 123 of the S1. There are other GIFI codes you can consider for mapping to the non-deductible section on the T2. To find out what those are and which would be appropriate for your needs, I recommend contacting the Canada Revenue Agency's tax tip line at 1-800-267-6999. This CRA page has more info: Tax Information Phone Service (TIPS)

If you choose to use a different GIFI code, you can easily change this in Workpapers by following these steps in the client account.

1. Select the Toolbox icon.
2. Choose Workpapers.
3. Click Tax Mapping.

There are a few more steps to it, which are outlined in detail in the Workpapers GIFI mapping article. If you're having trouble with it, our dedicated Pro Tax team is at the ready to help you out. To see the support options, head back to your firm account, select the Pro Tax tab, then the Pro Tax Help button. There, you'll see the options for getting in touch by phone or chat to speak with someone directly.

I hope this helps! Don't be afraid to give the Pro Tax team a shout. :)

Thank-you for your help but I think your reply contradicts itself.  I want GIFI to map to line 123 of the S1 as you mentioned (which is non-deductible insurance premiums) but the problem is Protax does not map it there.  Can you please advise why Protax does not map to line 123 of the S1 as you said it should?

Hi rgubic,

Thanks for clarifying what you are looking to do. Since you should be able to map your GIFI to line 123 of the S1 it would be best you contact our pro tax support team to have a one on one conversation to get this resolved. 

To see the support options available, head back to your firm account, select the Pro Tax tab, then the Pro Tax Help button. You should see options to get in touch by phone or chat to speak with someone directly.

Have a great day!