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BWHolden
March 23, 2023
Question

Unable to Claim the Lifetime Capital Gains Exemption on Software

  • March 23, 2023
  • 1 reply
  • 0 views

I sold QSBC shares (I am a tax lawyer, and am certain that the disposition qualifies); however, I cannot seem to claim the deduction using the turbotax software. I entered the capital gain, and then the software sets the maximum LCGE deduction at $0.00. I have never claimed the LCGE or an ABIL, and I have held these shares for over two years. The assets of the corporation also satisfy the small business corporation test. 

 

Any insight or thoughts would be greatly appreciated. 

    1 reply

    B
    BWHoldenAuthor
    March 23, 2023

    It still isn't working - please advise. 

      TurboTaxSusan
      TurboTaxSusan
      March 26, 2023

      Please contact our phone support team at 1-888-829-8608 as they will be better able to assist you.

       

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