Incorrect allocation of business limit on schedule 23

Program(s) affected: T2 Document created: April 15, 2004 Tax year(s): 2004 Document last modified: May 25, 2004 Version(s): Problem status: Fixed

DT Max does not allocate the business limit properly on schedule 23.

The new business limit in 2004 is from $225,001 to $250,000.

This problem occurs in version 7.20 for an associated corporation with a 2004 fiscal year-end. If the corporation has only one associated corporation to share the business limit with, use the keyword Override, select Federal followed by Federal schedules and Schedules 23/49, then enter 400 under FIELD-DATA and enter the amount of the business limit that you want to allocate to the corporation you are processing.

Please contact the DT Max support group if your corporation has more than one associated corporation to share the business limit with.

This problem is fixed in Internet version 7.25.