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JMPin
Level 1

how do I complete schedule 3 on a T2 return with a T3-Statement of Trust Income Allocations and Designations?

I received a T3[Statement of Trust Income Allocations and Designations] in the name of the corporation.

How do I complete Schedule 3? I have the following boxes on the form

Actual amount of eligible dividends

Capital gains

Other income

Amount resulting in cost base adjustment

Foreign non−business income & Foreign non−business income tax paid

2 Replies
TurboTax-Duncan
Level 6

how do I complete schedule 3 on a T2 return with a T3-Statement of Trust Income Allocations and Designations?

Hi, thank you for using Intuit TurboTax Community

For the T2 return all income should be reported on schedule 125. You will then need to also look at other schedules such as s3, s6, s7 and s21. For more information on which schedules to use and how to complete them, you can use the Easy Step feature in TurboTax Business Incorporated and the CRA T2 guide available here

Hope this helps

JMPin
Level 1

how do I complete schedule 3 on a T2 return with a T3-Statement of Trust Income Allocations and Designations?

Thanks this was helpful.  

In addition I called CRA Business, 1hour 42 minutes, later was given insights as well.  When I've read & absorbed the answers I will share if interested.

Thanks again 

jmpin

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