When filing out the T1135 Foreign Income Verification Statement using Part A: Simplified reporting method, the program will not accept $0 as the Gain(loss) from the disposition from all specified foreign property. In the auditor there is a T1135 Error message that reads "Part A: please enter an amount in the Gain/Loss from the disposition from all specified foreign property field. If nil enter 0." But when I enter 0 (Zero) the line remains yellow and the error does not disappear. Has any one else had this problem? And how do I fix it?
I remember this happening in past years as well. What I did was just to put the zero in, and on the auditor message right click, mark it as reviewed, and move on. It did not prevent e-filing so it should be OK.
I have a question about T1135 as to IF I should file it. The Foreign income verification sheet shows, max cost during the year is 58K, Max fair market value during the year shows 112K and year end fair market value shows 112K and the fair market value during the year fluctuates between 108K to 112K
Can someone please please please help me. Should I file T1135?
You only have to file the T1135 if you have specified foreign property which cost more than $100,000. The fair market value is irrelevant when determining if you have to file.
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