The only income for my corporation client is from partnership(it is loss in current year). The partnership is earning rental income and issue T5013 slip to my corporation client. I record partner’s share of partnership loss per Partnership FS in my client’s book. But in T2 S1, do I need to add back the “book loss on partnership” and deduct the amount in box 107 of T5013 (limited partner’s rental income (loss))?
Thanks!