T2 schedule 68 included in tax even though not a bank or insurer - any guidance on how to fix?
Updated Profile today and it is calculating the 1.5% tax on a small business. NAICS code is correct. Telephone call with Profile support did not help - could not tell me how the software decides this applies or how to correct it. Do we have to override this and set this tax to nil manually, or does anyone know how to fix this without override?
T2 schedule 68 included in tax even though not a bank or insurer - any guidance on how to fix?
Hi,
You can override line 300 of schedule 68 as a work around. We are looking for the cause to fix this in an update but, it does not seem to key off Naics, income, corporation type, etc. So at this time the line 300 override is required. I apologize for the inconvenience.
T2 schedule 68 included in tax even though not a bank or insurer - any guidance on how to fix?
Hi,
There is an update to ProFile 2022.3. Please update your ProFile 2022.3: a workaround is no longer needed.
I apologize for the inconvenience
You are leaving Intuit.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
