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News > RESOLVED: Line 013 on the AT1 Schedule 12 incorrectly calculates an amount when it should be zero

RESOLVED: Line 013 on the AT1 Schedule 12 incorrectly calculates an amount when it should be zero


A issue has been found relating to the AT1 Schedule 12 in TaxCycle version 7.0.32569.0.

Issue

In AT1 returns with a tax year starting in 2016 and ending in 2017, line 013 in AT1 Schedule 12 incorrectly calculates an amount when it should be zero.

Details

On federal Schedule 10, when electing under 13(38)(d)((iii) in Part 4 (question 102 is Yes), an amount is calculated on line 475 (amount OO).

For Alberta purposes, the corresponding amount is calculated on line 324 in AT1 Schedule 14 Supplemental (AS14Supplemental).

If the amounts for federal and Alberta are the same, AT1 Schedule 12 line 013 and 012 must be zero. (On the AS12, reconciling amounts must calculate only if the federal and Alberta amounts are different.)

Currently, when these amounts are the same, TaxCycle incorrectly calculates the federal amount on line 013. The correct amount should be zero:

Workaround

Override the amount on line 013 of the AT1 Schedule 12 to zero.

Override AT1 Schedule 12

Resolution

This issue was resolved in version 7.0.32622.0.

 


 

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