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L
Liksufalcon
February 24, 2023
Question

Amalgamation of two Ontario Owned Canadian Corporations

  • February 24, 2023
  • 1 reply
  • 0 views

I recently amalgamated two Ontario Corporations into one of them. This happened August 29 of 2022 and I am now going to prepare my 2022 tax returns for the successful corporation.  Year end is December 31.

My Question is this.  I have successfully transferred Assets and Liabilities, but do I transfer the following: Retained Earnings/Deficit; Common Shares, Net Income/Loss.  taxes were cleared.  

1 reply

T
Trish_T
February 24, 2023

Hi Liksufalcon,

 

I appreciate you reaching out to QuickBooks Community.  Welcome!  It's important that you're on the right track with your QuickBooks goals.  In this situation, I encourage you to reach out to an accounting professional for their expertise and best course of action.  If you don't have an accountant, we can help you locate a ProAdvisor in your local area.  

 

Feel free to reach out with other questions.  We'd be happy to help!

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