  Carrying charges, investment expenses |
Use IntCarCharge to enter the interest paid on money borrowed to earn investment income. DT Max will report this amount on line 22100 of the federal income tax return and line 231 of the Quebec income tax return.
 See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 22100 - Carrying charges and interest expenses
 See the CRA's general income tax guide:
Line 22100 - Carrying charges, interest expenses, and other expenses
Use Oth-Inv-Exp to enter all other investment expenses including management or safe custody fees, accounting fees, investment counsel fees, etc. For each, enter the description followed by the amount.
DT Max will report this amount on line 22100 of the federal income tax return and line 231 of the Quebec income tax return.
The following options are applicable for the keyword Oth-Inv-Exp.
Management and accounting fees
Fees paid to investment counsellors
Premiums on life insurance policies used as collateral
Other carrying charges (specify)
Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 22100 - Carrying charges and interest expenses
See the CRA's general income tax guide:
Line 22100 - Carrying charges, interest expenses, and other expenses
Use Other-Expenses to enter all other expenses paid to earn income from investments. For each, enter the description followed by the amount.
DT Max will report this amount on line 22100 of the federal income tax return and line 231 of the Quebec income tax return. Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 22100 - Carrying charges and interest expenses
See the CRA's general income tax guide:
Line 22100 - Carrying charges, interest expenses, and other expenses
Use the keyword Legal-Fees-Alim to enter the legal fees paid relating to support payments the current or former spouse or common-law partner, or the natural parent of the child, will have to pay to the taxpayer. Legal fees paid to try to make child support payments non-taxable must be deducted on line 23200 with the keyword Legal-Fees .
The amount entered here will be reported on line 22100 of the federal income tax return and on line 250 of the Quebec income tax return. Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 22100 - Carrying charges and interest expenses
See the CRA's general income tax guide:
Line 22100 - Carrying charges, interest expenses, and other expenses
For Quebec purposes, DT Max ordinarily calculates the appropriate amounts of carry forwards with respect to investment expenses and carrying charges. However, in circumstances where you are processing a new client, you may use the following options for the keyword CarCharge-CF . The unused portion of the adjustment of investment expenses is equal to the total of the amounts indicated since 2004 on lines 40 and 64 of Schedule N, minus the amount already used to reduce your investment income for a previous year.
DT Max will report this amount on line 70 of the Quebec Schedule N.
The following options are applicable for the keyword CarCharge-CF.
Carrying charges adjustment This option allows you to enter the unused portion of the amount of the adjustment of investment expenses from previous years. This amount will appear on line 70 of Quebec Schedule N and will be used in the calculation for the amount of investment expenses that may be deducted on line 78 of Quebec Schedule N.
TP-776.42 - Re-adjustment of investment expenses This option allows you to enter an amount relating to line 234 of Form TP-776.42-V "Alternative Minimum Tax". It should represent the unused portion of the adjustment of investment expenses for AMT purposes (line 217 of form TP-776.42-V for 2004 plus line 215 of form TP-776.42-V for 2005 through 2024, minus the carry-over of the adjustment of investment expenses for AMT purposes for 2001 through 2024).
Limit the carrying charges adjustment to be used on Q252 This option allows you to limit the amount of unused portion of the adjustment of investment expenses on line 252 of the Quebec income tax return. This amount will appear on line 78 of Quebec Schedule N and will be used in the calculation for the amount of investment expenses that may be carried forward.
| 