CDA-BalanceCDA-Balance data related to the capital dividends accountThe following options are applicable for the keyword CDA-Balance.
BalanceDateOVDT Max will automatically enter tax year-end on the CDA balance date shown on line 001 of Schedule 89. If you wish to override this date, use the BalanceDateOV keyword to do so.
VerificationUse the Verification keyword to indicate if this is a balance verification request (Schedule 89).The following options are applicable for the keyword Verification.
CDA-DateUse the CDA-Date keyword to enter the tax year-end concerning the CDA components (except for eligible capital property). Start your list with the tax year that began after the corporation last became a private corporation and ended after 1971. End your list on the CDA balance date shown on line 001 of Schedule 89. If you are completing this schedule before your tax year-end, use the CDA-DateOV keyword to enter the relevant date of the activity.Use the CDA-Date keyword to enter the tax year-end pertaining to the CDA components (eligible capital property).
CDA-CapGainsUse the keyword CDA-CapGains to enter amounts that will be used to calculate the capital dividend account.For current year capital gains (and losses), DT Max will add (deduct) the non taxable portion to (from) the capital dividend account. The current year amount will be carried forward to future years in the CDA-CapGains keyword. The following options are applicable for the keyword CDA-CapGains.
CDA-LifeInsAmounts entered in CDA-LifeIns will be used to calculate the capital dividend account with respect to life insurance policies for which proceeds have been received in the current and previous taxation years.Enter current year eligible life insurance policy proceeds received and the adjusted cost base of the policy here. DT Max will add the proceeds to and deduct the adjusted cost base from the capital dividend account. The current year amounts will be carried forward in future years in the CDA-LifeIns keyword. The following options are applicable for the keyword CDA-LifeIns.
CDA-TrustUse the CDA-Trust keyword to enter the non-taxable portion of capital gains from a trust per paragraph 89(1)(f) and capital dividends from a trust per paragraph 89(1)(g) in the previous years and in the current year.The following options are applicable for the keyword CDA-Trust.
CDA-ECPAmounts entered in CDA-ECP will be used to calculate the capital dividend account with respect to eligible capital property.For current year eligible capital expenditures disposed (acquired), DT Max will add the non taxable (deductible) portion to the capital dividend account. The current year amounts will be carried forward in future years in the CDA-ECP keyword. The following options are applicable for the keyword CDA-ECP.
CDA-Pred-NameIf there are predecessor balances to report in Part 2A of on Schedule 89, use the CDA-Pred-Name keyword to enter the name of the predecessor.
CDA-Pred-BusNumIf there are predecessor balances to report in Part 2A on Schedule 89, use the CDA-Pred-BusNum keyword to enter the business number of the predecessor.
CDA-Amalg-DateIf there are predecessor balances to report in Part 2A on Schedule 89, use the CDA-Amalg-Date keyword to enter the amalgamation date.
CDA-AmountsIf there are predecessor balances to report in Part 2A on Schedule 89, use the CDA-Amounts keyword to enter the various CDA component amounts (except for eligible capital property) for the predecessor corporations.The following options are applicable for the keyword CDA-Amounts.
CDA-CapDivdsAmounts entered in CDA-CAPDIVDS will be used to calculate the capital dividend account. Capital dividends received increase the account while capital dividends paid decrease the account.For current year capital dividends received (paid), DT Max will add (deduct) these dividends to the capital dividend account. The current year dividends will be carried forward in future years in the CDA-CapDivds keyword. The following options are applicable for the keyword CDA-CapDivds.
Date-Div-CDAUse the Date-Div-CDA keyword to enter the tax year-end or relevant date for the capital dividend received or paid in the previous years and in the current year.
Name-CorpIf the capital dividend account includes a dividend that was received from another corporation, enter the name of that corporation with the keyword Name-Corp. This information is required for purposes of forms T2054 and CO-502.
Name-TrustIf the capital dividend account includes a capital dividend that was received from a trust, enter the name of that trust with the keyword Name-Trust. This information is required for purposes of federal Schedule 89.
Account-#If the capital dividend account includes a dividend that was received from another corporation, enter the account number of that corporation with the keyword #. This information is required for purposes of form T2054.
Trust-#If the capital dividend account includes a capital dividend that was received from a trust, enter the trust account number of that trust with the keyword #. This information is required for purposes of federal Schedule 89.
NEQ-#If the capital dividend account includes a dividend that was received from another corporation, enter the Québec enterprise number (NEQ) of that corporation with the keyword #. This information is required for purposes of form CO-502.
Ident-#If the capital dividend account includes a dividend that was received from another corporation, enter the identification number of that other corporation with the keyword #.This information is required for purposes of form CO-502.
Date-DivIf the capital dividend account includes a dividend that was received from another corporation or a trust, use the keyword Date-Div to enter the date at which the dividend became payable by that other corporation or trust. This information is required for purposes of forms T2054 and CO-502.
Life-InsuranceIf the CDA balance is to include net life insurance proceeds, the Life-Insurance subgroup keyword is used to enter the additional information required in Part 6 of federal Schedule 89.The following options are applicable for the keyword Life-Insurance.
Insured-IndivIf the CDA balance is to include net life insurance proceeds, use the Insured-Indiv keyword to enter the name of the insured individual.
Beneficiary.iIf the CDA balance is to include net life insurance proceeds, use the Beneficiary.i keyword to enter the name of the beneficiary.
Policy-NumberIf the CDA balance is to include net life insurance proceeds, use the Policy-Number keyword to enter the policy number.
ACB.lIf the CDA balance is to include net life insurance proceeds, use the ACB.l keyword to enter the adjusted cost base of the policy.
Tot-NetProceedsIf the CDA balance is to include net life insurance proceeds, use the Tot-NetProceeds keyword to enter the total amount received related to the life insurance net proceeds.
Redemption-DateIf the CDA balance is to include net life insurance proceeds, use the Redemption-Date keyword to enter the policy redemption date.
CDA-LifeInsTransUse the CDA-LifeInsTrans keyword to enter the balance of the corporation's life insurance CDA immediately before May 24, 1985, in accordance with paragraph 89(1)(e).
CDA-PredUse the CDA-Pred keyword to enter the amount from predecessor and subsidiary corporations.For amalgamations and wind-ups before July 14, 1990, calculate the CDA balance of each predecessor or subsidiary corporation separately. Then add these CDA balances to the CDA of the successor or parent corporation. Do not carry forward negative amounts, since these are considered to be nil. For amalgamations and wind-ups after July 13, 1990, carry over the amounts of all the CDA components of each predecessor or subsidiary corporation into the calculation of the CDA components of the new corporation. As a result, a negative balance in a component of a CDA of a predecessor or subsidiary corporation has to show in the CDA of the successor or parent corporation. Include a separate CDA calculation on a separate schedule for each predecessor or subsidiary corporation.
CDA-DateOVIn Part 1 of Schedule 89, column 1 refers to the tax year-end or relevant date. Include as many tax years as required. The list should start with the tax year that began after the corporation last became a private corporation and that ended after 1971. The list should end on the CDA balance date shown on line 001.DT Max will automatically end the list on tax year end, also automatically enter tax year-end on the CDA balance date shown on line 001 of Schedule 89. If you wish to override this end date, use the keyword CDA-DateOV to do so.
CDAcomponents-OVUse the CDAcomponents-OV keyword to override the CDA components (except for ECP).The following options are applicable for the keyword CDAcomponents-OV.
CDA-ECPOVUse the CDA-ECPOV keyword to override the CDA balance for eligible capital property, as calculated per paragraphs 89(1)(c), (c.1) and (c.2).
T2054-Cap-DispThe T2054-Cap-Disp keyword is used to report information regarding a capital gain or loss during the current tax year up to the date of the election for a capital dividend under subsection 83(2). This information will be shown on federal form T2054.The following options are applicable for the keyword T2054-Cap-Disp.
Quantity.cUse the Quantity.c keyword to enter the quantity of asset for which a capital gain or loss occurred during the current tax year up to the date of the election for a capital dividend under subsection 83(2).
Description.cUse the Description.c keyword to enter the description of asset for which a capital gain or loss occurred during the current tax year up to the date of the election for a capital dividend under subsection 83(2).
Acquisition-Date.cUse the Acquisition-Date.c keyword to enter the acquisition date of asset for which a capital gain or loss occurred during the current tax year up to the date of the election for a capital dividend under subsection 83(2).
Proceeds.cUse the Proceeds.c keyword to enter the proceeds of disposition of asset for which a capital gain or loss occurred during the current tax year up to the date of the election for a capital dividend under subsection 83(2).
ACB.cUse the ACB.c keyword to enter the adjusted cost base of asset for which a capital gain or loss occurred during the current tax year up to the date of the election for a capital dividend under subsection 83(2).
Expenses.cUse the Expenses.c keyword to enter the outlays and expenses from disposition of asset for which a capital gain or loss occurred during the current tax year up to the date of the election for a capital dividend under subsection 83(2).
ContactName.cdaUse the keyword ContactName.cda to enter the name of the person to contact for more information for purposes of federal Schedule 89.
FirmName.cdaUse the keyword FirmName.cda to enter the name of the firm for purposes of federal Schedule 89.
Phone.cdaUse the keyword Phone.cda to enter the telephone number of the contact person for purposes of federal schedule 89.
Extension.cdaUse the keyword Extension.cda to enter the telephone extension number of the contact person for purposes of federal schedule 89.
|