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T1 tax calculations
Alternative minimum tax
  Incorrect Quebec AMT calculation in 2001 |
| Program(s) affected: |
T1 |
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Document created: |
March 14, 2003 |
| Tax year(s): |
2001 |
Document last modified: |
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| Version(s): |
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Problem status: |
Pending |
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Why is the Quebec AMT calculated incorrectly for tax year 2001?
This problem occurs in tax year 2001 only. If the taxpayer
is claiming a tax credit respecting the acquisition of shares of Capital régional et coopératif
Desjardins (RL-26) on line 422 of the Quebec return, the amount on line 31
of Quebec form TP-776.42 (Calculation of alternative minimum tax)
does not reflect this tax credit.
Furthermore, line 40 shows an incorrect amount but line 42 is
calculated correctly.
As a workaround, you may override line 36 of form TP-776.42.
Lines 31, 35, and 40 however must be corrected manually.
Please note that this problem does not occur in tax year 2002.
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