TaxCycle 14.1.56342.0—Optional TP-21.4.39 Cryptoasset Return Update

This optional release updates the TP-21.4.39 form to reflect the recent changes made by Revenu Québec.

To install this version immediately, download the full installer from our website or request a free trial. Once we enable the automatic updates for this version, TaxCycle will prompt you to install it according to the priority set in your TaxCycle Options. We recommend updating the priority in TaxCycle Options to Rush, plus optional updates. (To deploy auto-update files from your network, see the Auto-Update Files page.)

Release Highlights

• TP-21.4.39 Cryptoasset Return
• Resolved Issues

TP-21.4.39 Cryptoasset Return

On April 16, 2025, Revenu Québec made a number of cosmetic changes to the TP-21.4.39 Cryptoasset Return form, which requires individuals, corporations and trusts to declare any cryptoasset holdings and activities.

Namely, the text under the IMPORTANT banner on the first page was updated as follows: “If the taxpayer made more than one transaction, they must keep a detailed list of the transactions for each type of cryptoasset in case we ask for it. Enter the result of the calculations on the corresponding line in Part 4, 5 or 6.”

We have updated the TP-21.4.39 form in TaxCycle T1, T2 and T3 to reflect this change.

Resolved Issues

• T1 2024—Fixed an issue where TaxCycle was not marking the Allowable Business Investment Loss (ABIL) worksheet as “used” if the disposition occurred before June 25, 2024 (Period 1).
• T1 2024—The TP1 print sets now appear for non-residents who are filing a TP1 return because they were deemed residents of Québec or filing under section 116 for taxable Québec property.