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Modify the Historical Tax Year Ends in T2

Updated: 2022-08-12

The TaxConstants worksheet contains a list of the Previous Tax Year Ends and uses this information in calculations and review messages in the return. You can edit this list to reflect the corporation’s history. TaxCycle carries forward the data from year to year.

Modify Previous Tax Year Ends

  1. On the Info worksheet, change the current Tax year start date and Tax year end date.
    Screen Capture: Info worksheet tax year dates
  2. Open the TaxConstants worksheet and go to the Previous Tax Year Ends section.
  3. To modify the first previous tax year, delete its Tax year end date first (before the year start dates). Work your way down the column of year-end dates to modify all prior years, from top to bottom, completing the year end dates for the 1st preceding through the 10th preceding years.
  4. Move to the second Tax year end column for the 11th through the 21st preceding years. Once again, move from the top to the bottom of this column when changing the dates.
  5. Move to the Tax year start column on the left. Work from top to bottom to change the tax year starts for each prior year for the 1st preceding through the 10th preceding years.
  6. Move to the Tax year start column on the right for the 11th through the 21st preceding years. Once again, move from the top to the bottom of this column when changing the dates.

Screen Capture: Previous Tax Year Ends section on the TaxConstants

Add a Previous Short Year

To indicate a previous short year end in the return:

  1. Open the TaxConstants worksheet and go to the Previous Tax Year Ends section.
  2. In the Tax year start column, find the preceding year when the year end changed from a short year end to a full year end and enter the start date for the short year.
  3. In the Tax year end column for that same year, verify that the year-end month and day remain the same as the subsequent years.
  4. In the row for the year preceding that short year, enter the Tax year end as the day before the short year tax year start date. Then, enter the Tax year start as a full year prior to the year end.
    Screen Capture: Previous Short Year
  5. Continue top to bottom down the Tax year end columns to enter the correct dates for the remaining tax year ends in the 21 previous years.
  6. Return to the Tax year start columns to enter from top to bottom the tax year start dates for the remaining years in the 21 previous years.