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.
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.
@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.
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.
@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.