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Negative ITC relating to the PPA calculated on S32Assist for Schedule 508
by Intuit• Updated 1 year ago
When the corporation claims both the Ontario Innovation Tax Credit (OITC) on Schedule 566 and the Ontario Research and Development Tax Credit (ORDTC) on Schedule 508 and waives 100% of the ORDTC on Schedule 508, Line 320, a negative amount calculates for the ITC relating to the PPA at Column E for Schedule 508 on form S32Assist.
Resolution
The negative amount should be overridden to zero.
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