topic Re: Schedule 3 in Troubleshooting

Schedule 3

Erik63 — Sat, 11 Jan 2025 17:37:37 GMT

When will Schedule 3 be corrected? When I made a change to my ACB it calculated my balance at $3,500,000,000,000, everytime I made a change it got bigger. The calculated capital gains doesn't get carried over. I understand why it's a mess and the fault of our current inept government but I would have expected TurboTax to release software that worked, subject to CRA updates.

Re: Schedule 3

TurboTax_Susan — Sat, 11 Jan 2025 20:05:00 GMT

We hope to get the issues with Schedule 3 resolved as soon as possible, but we don't have an ETA at the moment.

Please note that the Canada Revenue Agency (CRA) hasn't updated Schedule 3 on their website yet - they still showing the 2023 form as the latest.

Re: Schedule 3

dufus — Sun, 12 Jan 2025 20:53:25 GMT

Sched 3 Part 5 line 28 does not populate

Re: Schedule 3

TurboTaxAniqua — Sun, 12 Jan 2025 21:07:40 GMT

@dufus We hope to get the issues with Schedule 3 resolved as soon as possible, but we don't have an ETA at the moment.

Please note that the Canada Revenue Agency (CRA) hasn't updated Schedule 3 on their website yet - they still showing the 2023 form as the latest.

Re: Schedule 3

Erik63 — Tue, 14 Jan 2025 15:33:42 GMT

Turbotax should have released the 2024 version using the 2023 Schedule 3. I understand the predicament but if CRA hadn't changed the schedule then Turbotax should not have changed the schedule for the initial release. I bought the software early for tax planning regarding the capital gains that I crystalized between my corporation and myself and right now, today, the software is useless to me. At least with a working schedule 3 I could do some planning and better understand my corporate decision's, which have to happen now.

Re: Schedule 3

TurboTax_Susan — Tue, 14 Jan 2025 20:08:34 GMT

@Erik63 There are changes to the Schedule 3 for 2024, so using the 2023 version would cause incorrect calculations for some people if it were used.

Re: Schedule 3

Bnaeth — Tue, 04 Mar 2025 18:49:40 GMT

The Schedule 3 updated forms were released on Feb 10. Why is the software still deflecting back to the CRA for not processing file submissons?

Re: Schedule 3

TurboTaxAniqua — Wed, 05 Mar 2025 13:38:46 GMT

Schedule 3 is still locked by CRA and not finalized by yet. Please refer to this link Why does TurboTax say my forms are locked or haven't been finalized?

We do not have any ETA on this yet but as soon a these forms gets finalize we will be updating them in TurboTax for an accurate calculations.

We appreciate your patience.

Re: Schedule 3

Bnaeth — Wed, 05 Mar 2025 17:34:25 GMT

This is from the public statement on CRA site: "The Department of Finance announced today that it will introduce legislation in Parliament in due course, related to the capital gains inclusion rate change with a new effective date of January 1, 2026."

If this schedule 3 change isn't effective until January 1, 2026, why are we held up on 2024 submissions. Seems like we are all tempered to just accept this terrible Gov't service.

Thanks for your responses, i guess i'll be a good citizen and just sit and wait....

Re: Schedule 3

TurboTaxAniqua — Wed, 05 Mar 2025 23:38:42 GMT

@Bnaeth These forms are still locked by CRA & RQ and not finalized by yet. Please refer to this link Why does TurboTax say my forms are locked or haven't been finalized?

We do not have any ETA on this yet but as soon a these forms gets finalize we will be updating them in TurboTax.

We appreciate your patience.

Re: Schedule 3

ccfarmer1 — Fri, 07 Mar 2025 17:23:44 GMT

Today is March 7th 2025 and I still cannot print or net file my return. Is this still an issue with schedule 3 not be an updated. Thanks

Re: Schedule 3

TurboTaxAniqua — Fri, 07 Mar 2025 18:23:26 GMT

@ccfarmer1 Schedule 3 is still locked by CRA & RQ and not finalized by yet. Please refer to this link Why does TurboTax say my forms are locked or haven't been finalized?

We do not have any ETA on this yet but as soon a these forms gets finalize we will be updating them in TurboTax for an accurate calculations.

We appreciate your patience.

Re: Schedule 3

ccfarmer1 — Fri, 07 Mar 2025 23:29:38 GMT

Thank-you.

Re: Schedule 3

Last2020 — Mon, 10 Mar 2025 20:46:54 GMT

The 2024 S3 form is now posted on the CRA website. When will the rerun be finalized in turbo tax so we can submit our returns. Also my wife does not have capital gains. Why can’t I file her return and wait for the S3 issue be sorted out for my return.

Re: Schedule 3

brnsdv — Mon, 10 Mar 2025 21:06:32 GMT

EXACTLY! ... and this seems completely lost on TurboTax employeess/contractors ... they just don't understand customer experience.

Re: Schedule 3

brnsdv — Wed, 12 Mar 2025 23:18:25 GMT

That is not correct.

The CRA finalized Schedule 3 on February 24th, and CRA has confirmed filers can use the online version CRA has provided. You can read more about it and download the APPROVED 2024 OFFICIAL SCHEDULE 3 here: https://www.canada.ca/en/revenue-agency/services/forms-publications/tax-packages-years/general-income-tax-benefit-package/5000-s3.html

While I get that TurboTax may have to have its own software's forms approved by CRA, TT could easily have chosen to update its Schedule 3 in the software and just continue to provide that splash pop-up that forms have not been finalized ... the same as you already do and have done since the first version of TT's 2024 software was released in December. This would have been the customer experience focused approach for TT to take.

Re: Schedule 3

TurboTaxAniqua — Thu, 13 Mar 2025 13:43:48 GMT

@brnsdv These forms are still locked by CRA & RQ and not finalized by yet. Please refer to this link Why does TurboTax say my forms are locked or haven't been finalized?

We do not have any ETA on this yet but as soon a these forms gets finalize we will be updating them in TurboTax.

We appreciate your patience.

Re: Schedule 3

brnsdv — Thu, 13 Mar 2025 14:05:35 GMT

Understand, but since they ARE FINALIZED for general use by taxpayers you missed my entire customer experience points.

Re: Schedule 3

Danmc4 — Fri, 14 Mar 2025 03:09:55 GMT

Thank you for the update.

I see the CRA says most platforms should be approved by month end. I’m watching here for when that happens.

cheers

Re: Schedule 3

TurboTaxAniqua — Fri, 14 Mar 2025 15:18:26 GMT

@brnsdv thank you for your feedback and we appreciate your patience.