TaxCycle 10.1.42420.0—2020 CO-17 Forms (Revised)

Revenu Québec has approved TaxCycle T2 to support filing of Québec CO-17 returns with new and updated forms.

Get this version as a full download from our website or a free trial. An auto-update version will be available after March 2nd. (To deploy auto-update files from your network, see the Auto-Update Files page.) 

Release Highlights

• 2020 CO-17 Forms Approved for Filing
• New CO-17 Forms
• Updated CO-17 Forms
• New TP1 Form
• Multiple Jurisdiction Forms in TaxCycle T1
• Customer Requests
• Resolved Issues

2020 CO-17 Forms Approved for Filing

Revenu Québec has approved TaxCycle T2 to support filing of Québec CO-17 returns with new and updated forms.

New Québec CO-17 Forms

CO-1029.8.33.CS Tax credit for SMBs that employ persons with a severely limited capacity for employment

• The amount calculated on line 47 flows to CO17Refundable worksheet then to the CO-17 jacket in section 5.
• This is a multiple-copy form.

CO-1029.8.33.TE Tax credit for SMBs to foster the retention of experienced workers

• On page 3, in Part 4, select the screen-only check box to indicate that the corporation/partnership is associated with one or more qualified corporations and automatically create the CO-1029.8.33.TF.
• This is a multiple-copy form.

CO-1029.8.33.TF Agreement concerning the tax credit for SMBs to foster the retention of experienced workers

• This form is prepared when you select the check box in part 4 of the CO-1029.8.33.TE (see above).

CO-1029.8.36.5 Tax credit for a design activity carried out by an outside consultant

• Complete Parts 4 through 6 only once, on the first copy of the form (CO-1029.8.36.5 #1).
• The amount calculated on line 79 flows to the CO17Refundable worksheet, then to section 5 of the CO-17 return.
• This is a multiple-copy form.

CO-1029.8.36.7 Tax credit for an in-house design activity

• Complete Parts 4 through 6 only once, on the first copy of the form (CO-1029.8.36.7 #1).
• The amount calculated on line 69 flows to the CO17Refundable worksheet, then to section 5 of the CO-17 return.
• This is a multiple-copy form.

CO-1029.8.36.DA Tax credit for the development of E-business

• Complete Parts 4 through 7 only once, on the first copy of the form (CO-1029.8.36.DA #1).
• The amounts calculated on lines 96 and 108 flow to the CO17NonRefundable worksheet, then to section 4 of the CO-17 return.
• The amounts calculated on lines 113 to 115 (Column B) may be carried to one of the lines 421b through 421f in section 5 of the CO-17 return, completed for the previous taxation year with the code 308.

CO-1029.8.36.DC Election respecting the tax credit for the development of E-business

• Prepare this form if the qualified corporation wishes to claim the tax credit on the CO-1029.8.36.DA. (See the notes on the CO-1029.8.33.DA, above).
• The information entered in the Corporate Group Information (CGI) automatically flows to the fields on this form.

CO-1029.8.36.ID Cumulative limit allocation agreement for the tax credit for investment

CO-1029.8.36.IN Investment tax credit

• Complete Parts 6 through 11 only once, on the first copy of the form (CO-1029.8.36.IN #1).

Updated Québec CO-17 Forms

Unless otherwise indicated, the following forms only contain minor updates.

CO-17 Corporation Income Tax Return

• Line 19b and a corresponding question were added in the Québec section of the Info worksheet: Did the corporation receive or dispose of (sale, transfer, exchange, gift, etc.) virtual currency?
• The line 26 along with the corresponding question in the Québec section of the Info worksheet was removed: Is the corporation a general partner, or a party to either a contract of mandate or a contract of prête-nom?

CO-771 Calculation of the Income Tax of a Corporation

CO-1029.8.35 Tax Credit for Québec Film Productions

CO-1029.8.33.13 Tax Credit for the Reporting of Tips

• Added lines 52a and 52b added to section 2.7.

RD-1029.7 Tax Credit for Salaries and Wages (R&D)

RD-1029.8.6 Tax Credit for University Research or Research Carried Out by a Public Research Centre or a Research Consortium

• As per March 10, 2020, budget, the form was updated to reflect the elimination of the exclusion threshold for qualified expenditures incurred after March 10, 2020.
• Added a new screen-only question for expenditures incurred after March 10, 2020 to the bottom of page 2.

New TP1 Form

This release adds form TP-1129.RI-V, Special Tax on an Excess Amount Under a Profit-sharing Plan. This is the Québec TP1 federal form RC359.

Multiple Jurisdiction Forms in TaxCycle T1

Form T2203 Provincial and Territorial Taxes for Multiple Jurisdictions remains in progress and shows a Preview watermark in TaxCycle. Returns for clients subject to tax in multiple jurisdictions are therefore currently excluded from EFILE. We will remove this exclusion in an upcoming release.

All other T1 forms are final.

Customer Requests

• T2 Schedule 60—Select the Inactive project check box to carry forward information on Schedule 60 always.

Resolved Issues

• TP1 NetFile Transmission Failure
• TP1—In coupled returns, if the spouse/partner entered the principal taxpayer on their TPH worksheet to claim the Québec spouse caregiver amount, the credit was not calculating on line 14. 
• Client Manager—Quick Search not applying saved workflow filters, as posted on protaxcommunity.com.