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(T2) Schedule 7 does not include gains/losses from Schedule 6 lines 899 and 901

SOLVEDby IntuitUpdated 1 year ago

In the T2 module, S6 - Summary of Dispositions of Capital Property has new lines 899 and 901 for capital gains and losses.

These amounts should be included on lines 002 and 012 of S7 - Aggregate Investment Income and Active Business Income, but are not.

These amounts should also be included in QS6 - Summary of Dispositions of Capital Property and AS18 - Alberta Dispositions of Capital Property - AT1 Schedule 18.

Workaround

Add the following amounts to lines 002 and 012 of S7 - Summary of Dispositions of Capital Property:

  • In line 002 of S7, add 50% of the taxable capital gains from S6, line 899.
  • In line 012 of S7, add 50% of the allowable capital losses from S6, line 901.

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