When will Turbo Tax update the 2024 software?

[TurboTaxAniqua]

@JEEP3 If you don't have Capital gains, Please try clearing the unneeded form and then closing unused forms. You can find those options under Edit>Forms in the top menu. 

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 and appreciate your feedback.

[Mike M6]

The CRA’s official page for Schedule 3 indicates that the form was last updated on February 10, 2025, confirming its completion and availability for the 2024 tax year. 

Additionally, the CRA has provided guidance on completing Schedule 3, detailing the process for reporting capital transactions and calculating taxable capital gains or net capital losses. 

see the following link 

https://www.canada.ca/en/revenue-agency/services/forms-publications/tax-packages-years/general-incom...

Again I ask when will TurboTax fix the software to allows us to file returns which should have been available on February 24, 2025

[rubbi1953]

WHEN WILL TURBO TAX UPDATE THE PROGRAM SO WE CAN NETFILE OR PRINT OUR 2024

RETURNS

THANK YOU

RICHARD

[TurboTaxAniqua]

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.

[JEEP3]

Dear Admin, I have been using TurboTax for the last 25 years and be assured that I did close all the unused forms including Schedule 3 for capital gains despite that the taxpayer did not have any capital gain for 2024 and never had capital gains before.

As I mentioned before, the other two softwares that I have tried for 2024 allowed me to send this taxpayer its T1 for 2024 without any issued.

Thank you for your effort but, obviously, TurboTax is not up-to speed this year.

[TurboTaxAniqua]

@JEEP3 Thank you for your feedback! 

[JacobF]

In 2024 I sold my house, capital gains does not apply, but I still cannot complete my return due to forms on ready. When will that update come?

[Robi33]

CRA has on their website that Turbotax is now certified.

Turbotax has not provided an update.

I am sick and tired, after 12 years of Turbotax use every year it is the same.

Locked forms, always someone else's fault.

Turbotax, CRA has updated its system, check the NETFILE certification link.

[B_D_P]

The issue does seem to be with CRA. I'm sure that turbotax will update their software as soon as they are able to do so. An extension to the filing deadline has been granted as a result.

https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2025/what-you-need-to-know-f...

https://www.theglobeandmail.com/investing/globe-advisor/advisor-news/article-cra-tells-taxpayers-rep...

[JEEP3]

You are right when you are saying that the CRA as granted a relief in respect of late-filing penalties and arrears interest until June 2, 2025, for impacted T1 individual filers to provide additional time for taxpayers reporting capital dispositions to meet their tax filing obligations (see https://www.canada.ca/en/revenue-agency/services/forms-publications/tax-packages-years/general-incom...) posted on the CRA website on 2025-02-10 which followed the Government of Canada deferral announce on January 31, 2025 in implementation of change to capital gains inclusion rate.

So, this means that this relief applies to taxpayer reporting capital dispositions. Two comments here:

1. You can't submit, as of today, your tax return even if you do not report capital gains as, according to TurboTax, they are waiting for CRA to update some of their forms (listed in TurboTax software which includes Schedule 3 for capital gains) despite that the CRA has already updated their Schedule 3 on their website and is the same one that TurboTax has in their software. and while other software allows taxpayer to submit their tax return when they don't have capital gains and are not using Schedule 3.

2. This relief applied to taxpayer reporting capital dispositions. Therefore, if you do not have capitals gain to report but just can't submit your tax return due to software not updated, software not certified or any other reason, the taxpayer with no capital gains will be penalized if they don't submit their taxes on time.

So, yes, there is a relief from CRA announced on 2025/02/10 (see "Date modified" on the link previously mentioned) for taxpayer reporting capital gains and not for all taxpayer not being able to submit their T1 due to software issues.