My client, used to file T1135 in prior years, but in 2024, looks like her portfolio shows a cost of less than $100,000, she said she sold most stocks at end of 2023. I didn’t do her 2023 T1 because I was sick. With the 2024 T1135 statement from the bank though, that shows ACB of all holdings, I don’t think she needs to file the T1135 this year, but chances are, she may be back into it soon, so would you stop the T1135 for 2024? Or just file it even it’s less than $100,000.
I had a few cases like that and didn’t file the T1135 since the potential income would have been reported on a T5 or T3 anyway. I try to avoid being told by the CRA that the T1135 was not necessary.