T3 S9WS Schedule 9 Worksheet

Updated: 2023-07-13

Make sure to choose the allocation method on the T3 Allocation worksheet first before deciding which amounts to tax within the trust and allocate to beneficiaries on the S9WS.

The S9WS determines the amount of income that is retained and taxed in the trust, and the amount of income to allocate to the beneficiaries. At the top of the S9WS, select the calculation options for the income and expense allocation method:

  1. In the first field, decide what income to allocate to beneficiaries. TaxCycle calculates the amount to allocate to beneficiaries in the table below. Any remaining income will be taxed in the trust.
  2. If you select Allocate MANUALLY, the Income to tax in the trust column becomes editable so you can enter amounts to tax in the trust.
    Screen Capture: Select Income Allocation Method
  3. In the second field, choose how to apply expenses: Automatically or Manually. Choosing Manually changes many of the fields in the Apply expenses (T3RET line 41) column from calculated to data entry fields.
  4. To use the same allocation methods in the following year, check the box next to Carryforward allocation methods to next year?
    Screen Capture: Carryforward Allocation Methods To Next Year
  5. TaxCycle uses the amounts calculated in the Allocated amounts to beneficiaries column on the Allocation worksheet.