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Line 8860 Professional fees (includes legal and accounting fees) Deduct the fees you incurred for external professional advice or services, including consulting fees. You can deduct accounting and legal fees you incur to get advice and help with keeping your records.

If you reported dividends on line 12000 of your return, claim on line 40425 of your return the total of the dividend tax credits from taxable Canadian corporations shown on your information slips. The dividend tax credit amounts are usually shown on the following slips: T5 slip, Statement of Investment Income.

Section 194J of the income tax covers TDS deduction on fees for professional or technical services. This section covers doctors, accountants, engineers, interior designers, architects and also people associated with advertising field.

Enter the ordinary dividends from box 1a on Form 1099-DIV, Dividends and Distributions on line 3b of Form 1040, U.S. Individual Income Tax Return, Form 1040-SR, U.S. Tax Return for Seniors or Form 1040-NR, U.S. Nonresident Alien Income Tax Return.

If you do a Self Assessment Tax Return then you can submit a claim for tax relief on your professional fees and subscriptions within your Tax Return (box 19).

Filing Your Income Tax Return Report interest, foreign interest, and foreign dividends on line 12100. Report Canadian dividends taxable income on line 12000. Report capital gain income on line 12700. However, for the capital gain income, you will have to complete schedule 3 as well.

Mutual fund corporations Taxable (grossed-up) amount of dividend income include the total of these amounts on line 12000 of your tax return, and also include the taxable amount shown in Box 11 on line 12010 of your tax return.

Legal and other professional fees are not specifically mentioned in the Code as deductible items. Therefore, a taxpayer is able to deduct these types of fees only if they qualify as ordinary and necessary expenses under §162 (business expenses) or §212 (expenses related to the production of income).

To be eligible to receive the Dividend Tax Credit, you need to declare your dividend income on your taxes. The CRA designates tax forms to declare investment and dividend income that should be used to calculate your dividends and relevant tax credits.

Note: Line 13000 was line 130 before tax year 2019. Report on line 13000 of your return any taxable income that has not been or should not be reported anywhere else on the return.