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Level 1

T2 - Schedule 7 - Adjusted Aggregative Investment Income

Have the following questions with regards to Schedule 7 for Adjusted Aggregative Investment Income (on a T2):

 

- Will Profile be removing the "If this is your first year starting after 2018, complete the following portion" for 2020 and subsequent year T2 files?

- Will Profile carryforward the Adjusted Aggregative Investment Income amounts from a 2019 T2 into the 2020 T2?

 

Based upon the most recent update (2020.3.5) these issues have not been addressed. 

 

Thank you.

1 Comment 1
ProFile Duncan
ProFile Team

T2 - Schedule 7 - Adjusted Aggregative Investment Income

Hi, thank you for using Intuit ProFile Community

The section:" If this is your first tax year starting after 2018, complete the following portion", only relates to lines 2A to 2C and will be required for all returns prepared for the first year after 2018. Also, this is the current CRA schedule 7. ProFile will update when CRA issues an updated schedule 7. 

 

Schedule 7, starting at line 2D, must be reviewed every year with reference to note 14 and any other CRA guidance. Carryforwards are not planned at this time

 

Hope this helps