# reporting investment income in corporation with off calendar year end



## oedema (Jan 1, 2012)

Here's the scenario:

Private corporation with a June 30TH year end has earned investment income (dividends, return of capital, capital gains) from a number of stocks, bonds and ETF's.

T5's, T3's etc are issued for the calendar year end. Many funds do not decide on the classification of their distributions until the end of the calendar year when they must issue the appropriate receipts.

So how do I know when preparing my taxes in the middle of the calendar year whether the dividends I recieved Jan 1st to now are eligable, non-eligable, return of capital etc?

Thanks for any insight.


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## Homerhomer (Oct 18, 2010)

I have seen it done two ways:

1) Estimate allocation based on the past year, then reallocate in the next fiscal year once the allocation is announced by the company.
2) Set up revenues for the trusts from Jan 1 to June 30 as deferred income (liability), then reallocate it in the next fiscal year once the allocation is known.


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