Amount from line 9 of Form T691 (AMT)

Program(s) affected: T1 Document created: 04 26, 2007 Tax year(s): 2006 Document last modified: Version(s): 10.23 Problem status: Fixed in v10.30

Under what circumstances should I get an amount on line 9 (amounts deductible for properties that are tax shelters) of Form T691? Is DT Max carrying the right amount to this line?

a) An amount is required on line 9 if one or several of the following amounts are reported on Form T5004:

• Carrying charges (other than the resources portion) claimed on line 221 of the tax return;
• Investment fees with respect to a tax shelter claimed on line 221 of the tax return;
• An allowable business investment loss (ABIL) claimed on line 217.

b) DT Max reports an erroneous amount on line 9 when the taxpayer has:

• A T5013A (or a T5013) with a tax shelter identification number (keyword Tax-Shelter);

  AND

• An amount reported on line 9 of Form T691 from Form T5004 with respect to one or several of these items:
  • Exploration and development expenses entered through keyword Resource-Add (box 90 to 93);
  • Carrying charges (portion resources only);
  • Political contributions;
  • Donations.

As a workaround:

Use the keyword Override, select T691 line 9 and enter the correct amount (enter 0 if no amount applies).

To get a list of clients who have an amount reported on line 9 of form T691, access the 2006 tax year in DT Max and create a filter with the following command line under Calculated tax data:

%S13:9 > 0