Schedule N - Adjustment of Investment Expenses (Rama please add French for entire page)

This amount flows from line 29 of Schedule L or line 136 of TP1 return

This flows automatically from line 231 of TP1 return

On line 14 of Schedule N, enter the result of the following calculation:

• Add the amount claimed for renewable and conservation expenses incurred in Québec, the amount claimed for Québec development expenses, and the amount claimed for Québec exploration expenses that do not give entitlement to an additional deduction

• Subtract the total from the amount on line 241 of your return

 

 

The deductible amount of renewable and conservation expenses incurred in Québec is shown in box 60-2 of your RL-15 slip or box A-1 of your RL-11 slip

 

The deductible amount of Quebec exploration expenses that do not give entitlement to an additional deduction is shown in box 60-1 of your RL-15 slip or box A-2 of your RL-11 slip.

A deduction for other expenses that you incurred to earn property income, including the following amounts :

– a deduction for the repayment of interest received,

– a deduction for certain films (line 250 of your return),

– a deduction for foreign income tax on income from property other than rental property (line 250 of your return),

– a deduction for life insurance premiums relating to property income that is not rental income,

– a deduction for the repayment of an advance on a life insurance policy (line 250 of your return).

This flows automatically from line 128 of TP1 return

This flows automatically from line 130 of your return

This amount flows from line 29 of Schedule L or line 136 of TP1 return

This amount flows from box J of RL-3 slip

Recovery of resource deduction is any negative balance respecting cumulative Canadian exploration or development expenses related to mining, oil or gas (boxes A and B of your RL-11 slip or boxes 28, 29, 31, 60 and 61 of your RL-15 slip)

This amount flows from box B of RL2 slip

Enter the amount from line 139 of TP1 return if it does not include a capital gain that entitles you to a capital gains deduction (calculated using form TP-726.7-V) on line 292

 

Total limited partnership losses you sustained from 1986 to 2015 and included on line 289 of your TP1 return

Enter on line 52 of Schedule N the amount from line 290 of your return

The unused portion of the adjustment of investment expenses is equal to the total of the amounts entered since 2004 on lines 40 and 64 of Schedule N, minus the amount already used to reduce your investment income for a previous year.