Refresh a carryforward

Updated: 2017-02-27

If you’re carrying forward from TaxCycle to TaxCycle, and then make changes to the earlier tax return, you can “refresh” or update the carryforward in the later return. This is especially really handy when a client comes in with multiple years of returns to prepare. 

For example, if you needed to prepare two years of returns for a client, in the past, you likely would have prepared the prior year return first and then carried it forward to prepare the current return. This process worked fine unless the client discovered a forgotten slip or missing piece of information for the prior year, AFTER you had carried forward and prepared current return. You often ended up starting again and repeating data entry.

  1. Enter missing information in the prior-year return.
  2. Save the file.
  3. To refresh the carryforward from the prior-year file, right-click on a form and select Carry forward this return (or click Carry forward in the Data menu).
  4. To refresh the carryforward from the current-year file, right-click on a form and select Refresh carryforward (from prior year) (or click Refresh carryforward in the Data menu). 
  5. A dialog will show to confirm that you want to refresh the data in the other return. Click Yes to continue. (You can clear the check box to hide this alert in the future.)

refresh-carry-forward

Refresh a prior-year return

To update the prior-return with any changes in the current-year file:
  1. Save the current-year return.
  2. Click Refresh Prior Year in the Data menu.

Refresh Prior Year in the Data menu