TaxCycle 16.0.65036.0—Resolved Issues

This release resolves issues discovered since the last update.

To install this version immediately, download the full installer from our website. Auto-updates are now published at the same time as the full setup. TaxCycle will notify you of the new version right away and handle the installation timing according to the priority set in your TaxCycle Options. (To deploy auto-update files from your network, see the Auto-Update Files page.)

Release Highlights

• AT1 Schedule 29 Update

• Resolved Issues

AT1 Schedule 29 Update

Line 003 in Step 2 of the AS29Step worksheet now calculates as follows: for a corporation with its tax year ending after December 15, 2024, line 003 calculates to be equal to line 557 of Form T661; in all other cases, it calculates to be equal to line 559 of Form T661. This correction, in turn, will recalculate AT1 Schedule 29 (AS29) line 003.

For AS29Project, complete columns 105, 107, and 111 of the project list table using the following line reference rule:

• Line 557 of Form T661 for taxation years ending after December 15, 2024.

• Line 559 of Form T661 for taxation years ending before December 16, 2024.

In the next T2 release, expected later this year, TaxCycle’s AS29, AS29Project, and AS29Steps will be updated to reflect the above changes as required by Alberta Tax and Revenue Administration (TRA).

Resolved Issues

• T2—Resolved an issue where, when there was an amount on line 012 of Schedule 7 Part 1, an invisible decimal point caused line B to calculate incorrectly.

• Customer Reported T2 and T5013—Resolved an issue where, when a Taxprep T2 or T5013 file containing class 10.1 was carried forward to TaxCycle, the ending UCC for Québec was not carrying forward to TaxCycle’s S8Asset.

• Known Issue: E-signature Fields in Templates Sent as Approval Requests

• Known Issue: Impact of Bill C-15 on the Alberta Innovation Employment Grant (IEG) Calculation (AT1 Schedule 29)

• Known Issue: Template Print Error Related to Microsoft Update