T2 returns. depreciable property disposed

Forum|Forum|5 years ago
November 18, 2020
1 reply
4 views

I only do 1 T2 return, corporation is inactive now. All depreciable property was disposed at UCC for year end 2020. The program insists on an amount on line 1742 on Schedule 100. Yet no depreciation was claimed.

How do I correct? For the purposes of the S100 would I still claim the amount that would have been claimed? That seems to be only solution.

ProFile (Canada)

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P

Pro4

Level 8

Hi, thank you for using Intuit ProFile Community

If there are no depreciable assets then nothing should show for this class of assets on s100. S100 should reflect the company balance sheet as per the accounting books. Any unwanted lines on the s100 can be removed by right clicking on the line and selecting delete line

Hope this helps

A

Ag-TaxAuthor

Level 3

Thanks for the info. Have tried that but line 1743, accumulated depreciation requires an amount at 1742.

So, do I also delete 1743 amount for current year. You can see why I choose to avoid corporations

P

Pro4

Level 8

Hi, thank you for using Intuit ProFile Community

It would make sense that accumulated amortization would also be removed from the balance sheet if all depreciable assets have been disposed

Hope this helps

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