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CarolEpp
Level 2

Form 2043

I am having issues with files being accepted if I utilize the Optional Inventory on a farm.  My client has farm losses as a direct result of livestock purchases so I opted for optional inventory but even though there are no error messages when I e-file the message comes back

"180010 : Line 9946 for net income (or loss) on this selected financial data (SFD) record does not balance with total income minus total expenses, ,multiplied by the percentage share of the partnerships, if applicable.  This error may also set when there are entries on lines that do not relate to SFD type.  For example 8300, 8320, 8340, 8360, 8450, 8500, 8518 and/or 8519 relate to the Form T2125 when the SFD is type 02 for business of commission operations, but do not relate to the Form T2125 when the SFD is type 03 for professional operations."  even though this was on Form T1163 (farm Statement)

Any advice I need this filed asap.

 

 

8 Comments 8
Bill579
Level 1

Form 2043

I'm having same problem with T1163 and partnerships. Did you get any answers from Profile?

Mignonne
Level 1

Form 2043

I have same error message when e-filed the T1163. Did you get an answer from ProFile yet?

I called to CRA and they said the Professional Tax Software should able e-filing and will be on hold until it receives Royal Assent

CarolEpp
Level 2

Form 2043

With some help from Profile here is the solutions (yes there are more then one)

1163 make sure the amount is an even $ amount so I round the amount up or down based on what is would be so for example 2043 states 57.31 I would round down to $57.00 as the 1163 only take even dollar amounts.  this sometimes fixes it - try e-filing if that doesn't fix it then

step 2 - (usually for partnerships) create a new 1163 for each partner put the number form the 2043 as income  on line 9600 of the new 1163

for 2042s it works the same except you do not have to use whole numbers just fill in amounts.

As an added note - CRA is taking a long to to process these.  I still have one from Mid March that is not completed yet still "in processing" Just FYI

Mignonne
Level 1

Form 2043

Thank you so much for the information CarolEpp

Bill579
Level 1

Form 2043

This still doesn't work for some of my partnership clients. I still can't file a farm partnership when there is a refund from the T2043. I have filed info under a new T1163, done over-rides among other things.

Can someone give me a number to contact Profile technical support. I had a number at one time but I have since lost it.  There is no phone number when I look up technical support just boots me to this site.

The online community help line doing the work for Profile is a bit of a joke in my mind.

Bill579
Level 1

Form 2043

If the issue has to do with farm partnerships and CRA won't allow filing, then this is what worked for me. I had help with Laura at Profile and together we worked it out. Where the partner's share of the "return of fuel charge proceeds" box E in the partnership information of the T1163 will have to be over-ridden and "0" entered.

If the partnership is "say" 50% each, then the amount that was in box E will need to be doubled and entered in line #9600 Return of fuel charge proceeds. This will give you the correct  net farm income.

Now you have to correct the amount the will be rebated on line #47556 on last page of the T1.

To do that you need to enter 50% of amount entered in Chart A of the Gross Eligible farming expenses on the T1163. If the partners' share is 25% use 25%. So you would enter this number in box 67061 in part 1 on the T2043 form. Depending on the province you would enter that same number in the Part 2 (box 67063, 64, 65 or 66) This should result in that number being multiplied by .147 and showing up in box 2a-2d and the in 2E.  You may have to over-ride and enter in those boxes. This number should then be carried over automatically to page 8, line 47556. Make sure you check all the over-rides before e-filing.

If the partner is a spouse you will have to do the same thing on the spouses return,   since an entry on line 9600 does not transfer to the partner, nor any entries on the T2043.

 

I hope you have more hair left on your head than I did after all of this. The crazy part is some of my partnerships went through no problem, sometimes just the one spouse. Go figure.

 

Mignonne
Level 1

Form 2043

Hi Bill579,

I have rejected from e-filling with T1163, I followed your steps and tried to fixed it, enter the double (50%x2) amount from box E to the spouse (husband)'s T1163; then the wife's T1163 net income agreed without amount on line 9600 on the wife's return

however, I have an issued with the partner is a spouse, I did the same thing on the spouse (wife) return but when I enter the same amount of the spouse (husband) on line 9600 - it's add more income to T1163 which 

Did you have this issue before? Thanks

Bill579
Level 1

Form 2043

Yes you do have to add the same number for both partners on line 9600. You would think it would transfer over automatically like everything else but not so. You have to over-ride on each partner. Make sure you sign-off on all the summaries,warnings, notices, over-rides and then save before e-filing. Hope this helps, sorry for not replying sooner but have been away.