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My accountant filed my 2019 corp tax (rental property business), since it's the first time so i had business loss. However, There are few expense that was not included, so I corrected in the quick books, as a result, I had more loss in the profit & loss report, do I have to request amendment for this return or I can just simply include them in 2020 return? I read from the other question that it's better to amend the prior year’s corporate tax return, but I don't remember what exactly how many and where the expenses was added to the quick books, where I should look? how to amend the return? many thanks!
J-
You will need to amend the T2 Return, along with Schedules 125 and 100 for the updated financial statements. For detailed instructions, see this link https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/after-you-file-your-corporation-income-tax-return/reassessments-adjustments-your-t2-return/requesting-a-reassessment-your-t2-return.html