Carry forward returns

Updated: May 05, 2017

What can TaxCycle carry forward?

Carryforward takes the data from the prior-year tax return that is needed in the following year. This includes identifying information, slip and form usage information, amount and limits to be used in the following year. It is not an import or a conversion of same-year files.

Competitor carryforwards

In addition the TaxCycle-to-TaxCycle year-over-year carryforward, TaxCycle offers carry-forward conversions from the following software vendors. Expand the sections below to learn about carrying forward from your old tax software.

Supported years and modules
  • T1 returns from 2011 to 2016
  • TP1 returns from 2013 to 2016
  • T2 returns with year-ends from 2010 to 2016
  • AT1 returns with year-ends from 2010 to 2016
  • CO-17 returns with year-ends from 2015 and 2016
  • TurboTax® Business Incorporated with year-ends from 2013 to 2016
  • T3 returns from 2013 to 2016
  • TP-646 returns from 2016
  • T3010 returns with year-ends from 2013 to 2016
  • T4, T4A, T5, T5018 slips from 2012 to 2016
  • NR4 slips from 2014 to 2016
  • T5013 returns with year-ends from 2013 to 2016
Family linking

When you carry forward family linked returns from ProFile® T1, carry forward the principal taxpayer/spouse file and then each dependant file. This creates a new file for the taxpayer and spouse, and separate files for each of the dependants. Add these dependant files later to the taxpayer/spouse return to create a family return (see the help topic on Family returns).

Memos

If you carry forward memos from ProFile® into TaxCycle, the memos will be associated with the original form, but not to a specific field on that form. After carrying forward, you can drag and drop these memos onto fields if you wish. See the instructions in the Memos help topic.

ProFile® FX carryforward

Each ProFile® FX file can contain more than one type of return. For example, T4, T5, T5018, T5013 all in one file. TaxCycle handles each of these types in a separate file. Carry forward ProFile® FX files into TaxCycle in the same way as any other file and TaxCycle will determine what returns to create:

  • If there is only one type of return in the file, TaxCycle will create a TaxCycle return for that type. For example, if the ProFile® FX file contains only T4 slips, TaxCycle will create a TaxCycle T4/T4A file.
  • If there is more than one type of slip in the file, TaxCycle will ask you which slip type(s) you would like to carry forward.

In the dialog box that appears:

  1. Check off the slip types you wish to carry forward.
  2. Click Carry forward button to create each separate TaxCycle slips file. 
  3. TaxCycle opens each of these files in separate windows so you can begin working on them.

Carry forward slips from Intuit® ProFile®

Supported years and modules
  • T1 returns from 2013 to 2016
  • TP1 returns from 2015 and 2016
  • T2 returns with year-ends from 2010 to 2016
  • AT1 returns with year-ends from 2010 to 2016
  • CO-17 returns with year-ends from 2015 and 2016
  • T3 returns from 2014 to 2016
  • T3010 returns with year-ends from 2013 to 2016
  • T4, T4A, T5, T5018 slips from 2013 to 2016
  • NR4 slips from 2014 to 2016
  • T5013 returns with year-ends from 2014 to 2016
Recalculate before carrying forward

It can be beneficial for those using Taxprep® to "recalculate" their returns before carrying them forward. Note: If you don’t want to recalculate returns that have been already filed, we suggest making a copy of those Taxprep® returns into a separate folder first.

  1. Open Taxprep®.
  2. Go to the Client Manager.
  3. Select the returns you wish to recalculate, or press Ctrl+A to select all.
  4. In the Tools menu, then choose Recalculate selected returns, or press Ctrl+F9.
  5. A dialog box will appear asking if to confirm that you want to recalculate the selected files. Click Yes.
  6. Wait for the recalculation to complete. A progress bar appears on screen.
  7. Once the recalculation is complete, a results window appears telling you if the result result of the recalculation was successful.
  8. You can then choose to print or close that window.
  9. Once you've recalculated the returns, return to TaxCycle to carry them forward.
Taxprep® Forms carryforward

Each Taxprep® Forms file can contain more than one type of return. For example, T4, T5, T5018, T5013 all in one file. TaxCycle handles each of these types in a separate file. Carry forward Taxprep® Forms files into TaxCycle in the same way as any other file and TaxCycle will determine what returns to create:

  • If there is only one type of return in the file, TaxCycle will create a TaxCycle return for that type. For example, if the Taxprep® Forms file contains only T4 slips, TaxCycle will create a TaxCycle T4/T4A file.
  • If there is more than one type of slip in the file, TaxCycle will ask you which slip type(s) you would like to carry forward.

In the dialog box that appears:

  1. Check off the slip types you wish to carry forward.
  2. Click Carry forward button to create each separate TaxCycle slips file. 
  3. TaxCycle opens each of these files in separate windows so you can begin working on them.

Carry forward slips from Taxprep and Cantax

Supported years and modules
  • T1 returns from 2011 to 2016
  • T2 returns with year-ends from 2010 to 2016
  • T3 returns from 2013 to 2016
  • T3010 returns with year-ends from 2013 to 2016
  • T4, T4A, T5, T5018 slips from 2013 to 2016
  • NR4 slips from 2014 to 2016
  • T5013 returns with year-ends from 2014 to 2016
Cantax® FormMaster carryforward

Each Cantax® FormMaster file can contain more than one type of return. For example, T4, T5, T5018, T5013 all in one file. TaxCycle handles each of these types in a separate file. Carry forward Cantax® FormMaster files into TaxCycle in the same way as any other file and TaxCycle will determine what returns to create:

  • If there is only one type of return in the file, TaxCycle will create a TaxCycle return for that type. For example, if the Cantax® FormMaster file contains only T4 slips, TaxCycle will create a TaxCycle T4/T4A file.
  • If there is more than one type of slip in the file, TaxCycle will ask you which slip type(s) you would like to carry forward.

In the dialog box that appears:

  1. Check off the slip types you wish to carry forward.
  2. Click Carry forward button to create each separate TaxCycle slips file. 
  3. TaxCycle opens each of these files in separate windows so you can begin working on them.

Carry forward slips from Taxprep and Cantax

  • T1/TP1 returns from 2015 and 2016
  • T2 returns (Please be aware this carryforward is limited by the data that is exported from DT Max® T2 and is not as comprehensive as our other competitor carryforwards.)
Special instructions

The DT Max® to TaxCycle carryforward is a little different than the standard TaxCycle carryforward. Due to the way data is stored in DT Max®, TaxCycle cannot index the DT Max® tax returns in the Client Manager. Also, you must first extract returns from DT Max® before carrying them forward. Please read the help topic on DT Max® carryforward for full instructions.

Supported years and modules
  • T1 returns from 2013 to 2016
  • T2 returns with year-ends from 2010 to 2016

Video: How to carry forward tax returns in TaxCycle

Carry forward individual returns

To carry forward any type of return from any year:

  1. Click Carry forward.
  2. Browse to where you saved the prior-year tax return.
  3. Select the file(s) you want to carry forward.
  4. Click the Open button to create a TaxCycle return for the next year.

The DT Max® to TaxCycle carryforward is a little different than the standard TaxCycle carryforward. Please read the full online help topic on DT Max® carryforward.

If you already know what type of tax return you want to carry forward:

  1. Click on a tax module.
  2. Click on Carry forward for the year of return you want to create. 
  3. Use Carry forward and Link to create linked TaxCycle and DoxCycle files in a single step.
  4. Use Carry forward and Plan to create a planning file and populate it with data (more than just carry forward amounts) from the prior year return.

carry-forward-2017

Carryforward summary (Carry)

The T1 Carryforward summary (Carry) lists amounts carried forward from the prior year, such as RRSP deduction limit, unused donations and other deductions.

  1. Click the blue text of the section headings to jump to the related form or worksheet.
  2. The fields have links to jump to the form or worksheet where the amount is used (the blue arrow in the top left of the field indicates a link). Click or Tab into the field and press the F6 key. Or, double-click on the field to jump to the source.
  3. If you add review marks and memos to any of the fields on this summary, they also appear on the linked field.

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