Schedule 3

[elykFFF]

No, I don't have a reduction amount on Line 1. I simply have a capital loss in both periods and the software is making a mistake.

[TurboTaxSusan]

@elykFFF As per the Canada Revenue Agency (CRA), "The basic inclusion rate for all capital gains and losses would increase from one half to two thirds as of June 25, 2024." The $250,000 Threshold only applies to Capital Gains, not losses. You can see the calculations for the rates used on Part 5 of the Schedule 3.

[Habs10]

I have just received an update today Mar 17. I see that schedule 3 is no longer in “DRAFT” mode. I still cannot save/print a copy of my return before netfiling. I am unable to netfile as well. Please provide any issues still outstanding. Thanks 

[Gilles9999]

Yes I got the update and schedule 3 seems OK, not more Draft

But when saving my file I still get the message that not all forms are finalized.......

So I suppose there are some outstanding forms not updated so we cannot file if we have a Capital gain or loss

I wonder which forms are not finalized

[Gilles9999]

Or is it TurboTax that forgot to remove the Warning when they updated the App

Warning : that not all forms are finalized.....

[TurboTaxAniqua]

@Gilles9999 All the locked forms will be unlocked and ready by the 20th of March, 2025. We appreciate your patience.

[hqkhan]

Does that mean that there will another update on or before March 20th and we will be able to print, save and net file our return on March 20th.

Has CRA finalized the capital gains related forms and turbo tax is going to implement revised forms. Please provide clear and accurate answer

Thanks 

[TurboTaxAniqua]

@hqkhan It means that Schedule 3 will be updated on/by March 20th and will be ready in TurboTax software as per CRA regulations, and you will be able to print, save, or Netfile.

[Habs10]

I have just updated my Turbotax. I was able to print/save my return as well as netfile. All good now 👍

[TurboTaxAniqua]

@Habs10 That's a great news. Thanks for the update.