 Guide to Preparing 2020 Personal Tax Returns
 What's new for 2020?
COVID-19 economic relief measures
Personal tax calendar (2021) Personal tax rates and tools
Filing tips for 2020 personal tax returns
Chapter 1 – The T1 return – Getting started
Chapter 2 – Total income
Chapter 3 – Net income deductions
 Chapter 4 – Taxable income
Overview Order of applying provisions Retroactive lump-sum payments Losses of other years Line 25100 – Limited partnership losses of other years Documentation Non-residents Annotations Line 25200 – Non-capital losses of other years Farm losses Restricted farm loss Debt forgiveness rules Non-residents Annotations Line 25300 – Net capital losses of other years Net capital loss Applying the losses Non-residents Annotations Capital gains deduction Line 25400 – Capital gains deduction Calculation of the capital gains deduction Non-residents Annotations Security options and other deductions Line 24400 – Canadian Forces personnel and police deduction Deduction limit Administration Non-residents Annotations Line 24900 – Security options deductions Underwater options Cashout of security options Deferral of the security options benefits (before 4:00 p.m. EST, March 4, 2010) Donation of securities acquired under a security option plan Other deductions Non-residents Annotations Line 25000 – Other payments deduction Limits Non-residents Annotations Line 25500 – Northern residents deductions What's new for 2020? Travel benefit deduction Residency deduction Non-residents Annotations Line 25600 – Additional deductions Income exempt under a tax treaty Vow of perpetual poverty Adult basic education and other tuition assistance Employees of prescribed international organizations Annotations Chapter 5 – Federal non-refundable tax credits
Chapter 6 – Federal tax payable or refundable
Chapter 7 – Provincial and territorial tax
Chapter 8 – Quebec provincial income tax
Chapter 9 – Special situations and tax planning
Chapter 10 – Taxation of immigrants, emigrants, and non-residents
Chapter 11 – Administration
Appendices
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