Known Issue: T2 Schedule 75 Missing 10% Reduction in Column 1K

We are aware of an issue on T2 Schedule 75 where TaxCycle is not automatically reducing the specified percentage in column 1K when no election is required.

If column 1M in Part 1 is answered No, the specified percentage calculated under column 1K must be reduced by 10%. TaxCycle is not applying this 10% reduction as expected.

Workaround

Manually reduce and override the percentage in column 1K by subtracting 10% from the calculated amount. 

Anticipated Resolution

We will resolve this issue in the next TaxCycle update.