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  Optional inventory adjustment and QPP calculation |
My client has a farm loss in the year. DT Max proceeded with
an optional inventory adjustment in order to increase the income
and take advantage of the credits. However, the self-employment
income used in the calculation of QPP seems erroneous. Why?
In case of optional inventory adjustment, DT Max proceeds with
the following calculation to determine the amount of QPP eligible
income:
Inventory at the end of the year
-
Farming expenses
+
Farming income |
To workaround the problem, enter the amount showing on line 9941 of form T2042
in the keyword InventoryAdj with the option OIA - this year / override.
April 22, 2004
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