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Intuit

Exclude S73 partnership accrual from CDA calculation - Part 1: Audit

The total taxable gain or total allowable capital loss from S6 line U is used to calculate the current year addition or deduction to the capital dividend account.

However, S6 line U includes the taxable capital gains under section 34.2 (S6 line 899) and the allowable capital losses under section 34.2 (line 901), which should be excluded when calculating the capital dividend account.

Therefore, if you have an amount in S6 line 899, you must manually subtract half of the amount in line 899 from the CDA Current year non-taxable portion of capital gain. If you have an amount in S6 line 901, you must manually add half of the amount in line 901 to the CDA Current year non-deductible portion of capital loss.


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