We can create info slip files from a T2. Would be nice to be able to create a T3 from a T1, in similar fashion.
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How do you envision this will work? What fields are we populating in the T3 from the T1?
I suspect this might be a straight forward thing. But before I start, I would like to understand the circumstances under which it is useful.
Best,
~ Cameron
I envision it very simple, just the populate the input and engagement form. This would be used in the cases where a new client needs multiple years, and we start in the current year to get the T1013 filed.
It is also useful when you are creating an estate T3 , all the information is in the deceased’s T1 final.
Been working to many hours…
My answer related to creating a prior year file from the current file.
What I envision by creating a T3 from and T1 is for all kinds of testamentary trusts, just like creating a T4, T5 or T5918 from a T2.
Are there any plans regarding creating a T3 return from T1 return?
Yes, we are planning to do this. We will look at these types of things once all of our certifications are done. We’ve certified everything except TP1, and RL1/RL2, so we’ll have time to move on to this soon.
Best,
~ Cameron
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Do you have an approximate timeline for this (Creating a T3 from T1)?
I will look at this today. If all goes well, you will see it in our release on Wednesday.
~ Cameron
Thanks…much appreciated:-)