Personal Taxprep 2021.3

Mandatory Inventory Adjustment

This workchart updates either to Form T2042 or to AgriStability and AgriInvest Programs Statement A or B (T1163).

The mandatory inventory adjustment is only applicable where there is a net loss on line A of Form T2042 or on the corresponding line of the AgriStability and AgriInvest Programs Statement (T1163).

Short Fiscal Periods

If the fiscal period is less than 51 weeks, the minimum designated inclusion rate for specified animals must be prorated manually.