Aug 31 2017 year end. I added the CEC balance to class 14.1 opening balance on T2S8 .I get an audit error message on line 445, S 10 (II).How do I clear this?

Answer

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There have been changes done to the schedule. I will add the notes from our Release Notes. Please see if you find this helpful:

S10 - Cumulative Eligible Capital Deduction (CEC)

Starting on January 1, 2017, Schedule 10 is not applicable for eligible capital expenditures. In general, the remaining CEC balance on December 31, 2016 is transferred to a new Class 14.1 on Schedule 8, Capital Cost Allowance. 

For taxation years that straddle January 1, 2017, the current year CEC deduction calculated on Schedule 10 is prorated for the number of days up to and including December 31, 2016. The remaining balance must then be manually transferred to the opening UCC of Class 14.1 on Schedule 8.

From <http://support.intuit.ca/profile/en-ca/document.jsp?product=profile-english&id=INF30940>

If you need further help or have any questions, please feel free to reach out to us via chat, email or phone support and any of our agents will be glad to assist.

Fab

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Fab Sommerville , Support Specialist
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