'Investment Income you did not fully report'?
Hey everyone,
I got a letter in the mail from CRA today stating the above title, but as far as I'm aware I reported everything properly. My investment managers give me all the appropriate information and I submit that yearly without issue.
I'm just curious how 'bad' this is, how much of a headache, etc.
Also, they requested a Schedule 3 and a Schedule 7 form in regards to the 2024 tax year, are these standard forms that would have been prepared that year or are they special ones in regards to this investigation?
I've touched base with my accountant and will talk to my investment people if need be, but I'm just looking for some generalities in the meantime. Thanks!