When a corporation receives T3 income including capital gain, which line or schedule should this be reported to?

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When a corporate tax return is prepared (in Profile), the balance sheet and income statement ending balances/amounts must be entered into the GIFI schedules (schedules 100 and 125 if I recall from memory).

These must balance, so it is basically the trial balance that must be assigned to the appropriate GIFI line.

A T3 is typically used to report all kinds of income, including (but not limited to) Interest Income and Dividends (and possibly other types of income).  Each of these types of income has an associated GIFI line number.

As income is received, it should have been entered into the books of the corporation, and each account should have a GIFI line assigned so that when you enter/import the GIFI info into the schedules the return should be more or less complete.

Capital Gains should be recorded in an account seprate from other types of income and this account should be assigned the correct GIFI line number.  In the Revenue Section of Schedule 125 go to the line number field on an empty row and look for line 8210, 8211 or 8212; these are three lines available for Gains on sales of different types of assets.
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