I have noticed recently that the “Link” tab, showing prior year T1 files, is only showing the 2021 T1 returns, even for long-time clients. I’m sure I saw earlier that it included all prior year returns. Is there a setting to turn this on or off? It sure would be handy to use when doing capital loss carryback calcs. I’ve checked and have the location of all prior year files setup in the Options.
Hi Kevin, I use the 5 year short summary to establish previously reported CG to carry losses back. It’s quick and easy to use…Klaus @ Exact Tax Service
I use that as well; however, previously applied losses of other years to those years in the 5 year summary won’t necessarily be reflected in the balances on that 5 year summary.
I know what you are saying about the Link Tab… it was definitely handier when more years other than 2021 showed up in there.
Would the T1ALossCB worksheet help you at all?
I tend to use a combination of that particular worksheet, the 5 year summary (as @etservice1978 has mentioned) along with the AFR information for safe measure to confirm loss carry backs and previously applied losses.
Thanks, Wayne. I have used that loss worksheet “sparingly” so I can’t really depend on the accuracy of the numbers in that worksheet. I also use the 5 year summary, as mentioned by @etservice1978, but when I see 0 capital gains in one of the five years, it makes me think that we may have applied losses to the gain year(s).
It would have been easier just to leave the Link Tab with at least the last 5 years available. A change that definitely makes the program worse.
Edit - Only having the prior year listed in the Link tab is tougher to access than just right clicking and choosing “Prior Year”. Might as well ditch the tab.
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