In TaxCycle, much of the T3 Trust return is similar to a T1 personal tax return. Many of the forms look and behave the same. However, one area that is unique to TaxCycle T3 (and likely different from your old tax software) is the flexibility you have in entering beneficiary information and in allocating income to beneficiaries.
Enter name and contact information for beneficiaries on any of the following worksheets or slips. Information flows automatically between them:
The type of information available on each form differs slightly. The Beneficiary worksheet provides fields to enter the address and contact information, as does the T3Ben slip. The Allocation worksheet only allows entry and editing of the name of the beneficiary. If you spot a typo or change your mind about a piece of beneficiary information, you don't need to chase down the source field. Make the change where and when you see it.