Profile - T2 Line 9990 and Balance Sheet Tax Payable Question
Hello,
Have a general question for preparing a T2 using Profile Intuit Software for Ontario, Canada.
The corporation currently owes $1000 federal tax payable and $500 HST payable for 2024 fiscal year. Would I show this on the T2 2024 fiscal year ending December 31st, 2024 only on line 9990 as $1500 or would I also show this as a long-term liability on the Balance Sheet as Tax Payable code 2680 $1500?
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