TaxCycle | Products | Pricing | Training | Documentation | Support | News

Generating Trust from T1 Return

I generated a T3 file from the 2016 T1 return. That created a 2016 trust.

The year end is in 2017. Should I change the extension to say 2017 to ensure that I get the new rates? Or leaving it with the 2016 extension is fine.

Either will work but if you have not paid for the 2017 T3 module yet you will have “TRIAL” splashed across the pages.

I have had discussion around this “TRIAL” with Taxcycle thinking this was unintended since it does not seem to line up with the treatment of the other modules but apparently it was intended.

I also think it would be nice to be able to select the year when creating from the T1.

I have renewed for 2017 already. So no trial should be showing up.

Right now, I have put everything into the 2016 generated file, then realized that the year end is 2017. Should really have the extension correct. (So, yes, the selection of the year when creating from the T1 would be nice, given that the majority of the time, you are generating from a deceased individual who has up to a year for their estate.

You can just change the extension to 17 and it will open with it fine.

Just got caught in the same situation. How do you change the extension of the file?

You do this through Windows Explorer

I created a short video (though I mis-pronounced your name… sorry) Slight difficulty in the middle, but the video is about 1 minutes.

Thanks for your help.

Just so people know, there have been six people who watched the video, yet only four clicks have been registered in this board.

Hmmm… Wonder what is up with that difference?


Thank you @TimParris for the recording , was helpful :slight_smile: