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Rick1953
Level 1

why do i keep getting a warning about schedule 7 when this company has never reported any investment income? getting really frustrated with these errors

 
3 Comments 3
ProFile Duncan
ProFile Team

why do i keep getting a warning about schedule 7 when this company has never reported any investment income? getting really frustrated with these errors

Hi, thank you for using Intuit ProFile Community

The warning will appear for corporations with a start date after 2018. The passive rule changes, found here caused changes to schedule 7. ProFile gives a warning to the preparer to review new sections of the schedule. The warning can be signed off after review.

Hope this helps

ProFile Duncan
ProFile Team

why do i keep getting a warning about schedule 7 when this company has never reported any investment income? getting really frustrated with these errors

Hi, thank you for using Intuit ProFile

If the hyperlink does not work try this one:

https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-...

Hope this helps

 

Rick1953
Level 1

why do i keep getting a warning about schedule 7 when this company has never reported any investment income? getting really frustrated with these errors

I UNDERSTAND YOUR EXPLANATION, BUT WHY, OF THE 20 CORPS THAT I PREPARE, THIS IS THE ONLY ONE WITH THIS WARNING...STRANGE.  BUT THANX