You will see the following warning message in H&R Block’s 2016 tax software if you have entered a value that exceeds the allowable maximum venture capital corporation tax credit on the Yukon labour-sponsored venture capital corporation tax credit page:
The labour-sponsored venture capital corporation tax credit claimed can’t be higher than $1250.00. Make sure you entered the amounts shown on the certificate received from the Fireweed Fund Corporation correctly. [Warning]
How do I fix this?
To correct the error, enter the credit amount shown on the certificate you received from the Fireweed Fund Corporation into the designated field of the tax software. To do this, go to the Yukon labour-sponsored venture capital corporation tax credit page and enter your credit amount in the field labelled Venture capital corporation tax credit from your certificate.