Hi, A fiscal period is the time covered from the day your business starts its business year to the day your business ends its business year. For an existing business, the fiscal period is usually 12 months. A fiscal period cannot be longer than 12 months. However, it can be shorter than 12 months in some cases, such as when a new business starts or when a business stops. Self-employed individuals generally have to use a December 31 year-end. If you are an eligible individual, you may be able to use an alternative method of reporting your business income that allows you to keep a fiscal period that does not end on December 31. To know more details - https://turbotax.intuit.ca/tax-resources/business-owner-tax/establishing-fiscal-year-for-your-busine... Hope this helps Thanks ... View more

Hi, After entering the tax instalments at the beginning, did you opt for CRA autofill? If yes, then on accepting the process, the tax instalment would have got entered again hence doubled. You can go to line 476 of your T1 return and edit the Tax instalment amount. Hope this helps Thanks ... View more

Hi, You might find the below link helpful. https://turbotax.community.intuit.ca/questions/1190138-i-have-filed-%20my-tax-return-can-i-still-mak... Thanks ... View more

Hi, Yes you can import your T4A slips through CRA import feature of Turbotax. The Canada Revenue Agency already has much of your current year tax information before you actually file your tax return. When a T slip is issued to you from an employer, a government agency, or other source such as your bank or RRSP provider, the issuer also sends a copy to the Canada Revenue Agency. These copies are assigned to your Social Insurance Number and are housed in your CRA My Account along with your previous tax returns, carryforward amounts, and other tax related data. When you submit your tax return, CRA then compares the information you've filed to the information in your CRA My Account. Auto-fill My Return lets you download the information already in your CRA My Account directly into your tax return. TurboTax then automatically transfers your data to the proper spots within your return. With just a few clicks, your tax return is filled with the most accurate and up-to-date information available, right from CRA. https://turbotax.intuit.ca/tax-resources/auto-fill-my-return/overview.jsp Hope this helps Thanks ... View more

Hi, If you are using Turbotax desktop, during Introduction step-by step interview give What province did you live as your Province of residence as on 31/12/2015. And mailing address details in Contact info step. If you are using Turbotax online - Give Province of residence in third page of Introduction and give your mailing address details on your contact info page. Hope this helps Thanks ... View more

Thank you for your question. TurboTax is offering a new free software this year which may meet your needs. To learn more about TurboTax Free Online, please follow this link: http://turbotax.intuit.ca/personal-tax-software/free-online.jsp?iref=tto-freemium_TY15_TTFree If you have used TurboTax in previous years, you can sign in with the same userID and password using this link: https://ww1.2015.free.turbotaxonline.intuit.ca/signin Thanks ... View more

Hi, You can input your capital gain transactions in T5008. The CRA requires you to complete tax form Part 3 Schedule 3 for each stock trade identified on your T5008.   For, Short sales whose position is still open, you need not report it in Schedule 3 Thanks ... View more

Hi, Thank you for your question. Yes on page 4 of your T1 tax return- line 420 -Net Federal tax owed(refund) line 428 -Provincial and territorial tax balance After other tax instalment and other credits adjustments line 484 is the Refund amount Or line 485 is the Tax balance you owe to pay. Hope this helps Thanks ... View more