Preparing T5013 - Partnership Tax Return & Practice cases

The course provides an introduction to Canadian Partnerships. You will learn to prepare T5013 returns from start to finish The course includes 3 Real Client T5013 practice cases.

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Welcome to the Course - Preparing T5013 - Partnership Tax returns

Pre-Requisite Course - Preparing Corporate Tax Return using TaxPrep

General Information

Partnership Guide

Guide to Taxation of a Partnership - T5013

Income Tax Folio S4-F16-C1, What is a Partnership?

Guide for the Partnership Information Return (T5013 Forms)

Taxation of Partnerships

Download the TaxPrep Form - Demo version (T5013)URL

Steps to Follow to prepare a Partnership Return

CASE 1 - Two Brothers and a Truck

Case 1 - Scenario and casefacts

Create a New File using TaxPrep Forms software

Goto ID - Jump code and Complete the Client Identification

STEP 1 - Preparing T5013 - Complete the Client Identification - Legal Name, Business Number, Address, Province, Yearend and etc.

STEP 2 - Preparing T5013 - Goto T5013Fin - Jump code and Complete T5013 Financial - Partnership Return

STEP 3 - Complete GIFI

STEP 4 - Prepare applicable tax schedules

STEP 5 - Prepare the Worksheets

STEP 6 - Final Step is to complete T5013 slips

Case 1 - Practice T5013 - two scenarios

Scenario A - Detailed case facts for preparing T5013 Case 1-A

Scenario B - Detailed case facts for preparing T5013 Case 1-B

Case 2 - Top Realty Limited Partnership

Certificate

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