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T1 tax calculations
401 Bankruptcy
  Transfer of unused credits in pre-bankruptcy |
| Program(s) affected: |
T1 |
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Document created: |
August 27, 2004 |
| Tax year(s): |
2004 |
Document last modified: |
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| Version(s): |
7.30 |
Problem status: |
Pending |
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Why are a taxpayer's unused credits (line 440) transferred to
their bankrupt spouse's pre-bankruptcy return for Quebec tax purposes?
In Quebec, as of tax year 2003, it is no longer permitted to transfer
a taxpayer's unused credits to their bankrupt spouse's pre-bankruptcy return.
DT Max will reflect this change in a future version of the program.
For the time being, as a workaround, use the keyword Override in the file
of the bankrupt taxpayer and enter $0 on line 440 of the TP1 jacket.
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