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Schedule 3 and S3M

Updated: 2017-12-21

To facilitate data entry and management for certain schedules and tax situations, Schedule 3 (S3) has a flexible companion worksheet called the Schedule 3 Manager (S3M). 

You can enter or modify data on either the form or the worksheet and it instantly flows back and forth. Use whichever method is right for you. 

  1. Enter basic capitals gains/losses directly on the S3
  2. If you have more a complex scenario to address—such as exchange rates or spousal allocation—use the S3M
  3. Need to change one entry later, do it on either form and the changes flow back and forth between the worksheet and form automatically.

s3m

Entering Québec capital transactions—TPG and TPGSum

If you are preparing a Québec TP1 return where you need to report capital transactions, you need to make additional entries on the S3M. The month of acquisition as well as the type of disposition are required before the information flows through to the TPG and TPGSum:

Entering Québec capital transactions, TPG and TPGSum, TaxCycle

Information flows from the S3/S3M, to the TPGSum and the TPG (Québec Schedule G). However, if there is only one transaction for a particular section on the TPG, the information does not appear on the TPGSum at all. TPGSum is only required when there are multiple transactions for a section to consolidate the totals of the transaction into the required single line on the TPG.