Many issues with initial release

[hqkhan]

My question is

Will i ve able to net file my tax return using turbo tax end of February or i have to wait for updated schedule 3 form. My return is impacted by schedule 3 capital gain/loss calculation

Please provide clear answer

Thanks and best regards

[hqkhan]

Thsnks for your post.

I an trying to finalize my taxes for year 2024.

I intend to net file around end of February.

My tax return is impacted by schedule 3.

Will I be able to net file end of February I.e. Will you update schedule 3 forms before net file is available end of February

Please respond

[questionsforever]

I also get this 0.01 for capital loss carryforward, i don't get it. also, the capital losses are recalculated with some weird formula due to the new inclusion rate, BUT the new inclusion rate isn't happening, so I assume the capital losses from previous years will not need to be adjusted for 2024?

[hqkhan]

I hope turbo tax will fix the problem before net file time. Other wise we will not be able to net file our tax return.  Do we see any commitment from turbo tax.

[hqkhan]

I don't know why turbo tax is mor clarifying your question  is see of commitment from turbo tax staff resulting in doubts fir users of the software.

Wil be able to netfile our return end of February.

Clear answer to this question must be provided by turbo tax moderator 

[TurboTaxAniqua]

 CRA has shut down for the roll over and maintenance . Netfile will re-open and ready to accept TY24 and prior years on February 24, 2025.

Thanks for choosing TurboTax.

[hqkhan]

Then when will you issue an update with appropriate schedule 3 form for use for 2024 year taxes

Please respond

[TurboTaxAniqua]

@hqkhan Yes, we will, also an update will be provided within the software.

[hqkhan]

When will next update will be implemented by turbo tax. The update was done on January 23, 2025  We want correct scheduke 3 form update so that capital gains,  capital losses are calculated correctly and alother related forms are populated correctly. Also the  capital losses carry over to next year is not being calculated correctly. This needs to be fixed 

Please provide clear answers  to these questions

Will this al be updated and fixed by the time net file for year 2024 is availabke

[TurboTaxAniqua]

@hqkhan The issue related to Schedule 3 was reported to our teams. Unfortunately, this is not a situation under our control. At this time, some CRA forms are still being reviewed by them for the 2024 tax season, which could explain why some calculations are not done correctly or do not appear, and this has an effect on other calculation linked to this schedule.

We invite you to contact our product support team by phone, if you think this is not related. 

They have access to tools we don't have here in Community, like screenshare, and see the issues to escalate into an investigation if needed.