If you carry 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.
To update the prior-return with any changes in the current-year file: