TaxCycle 14.0.55615.0—T1/TP1 Paper Filing
This version of TaxCycle enables the barcode on the T1 Condensed for T1 2024 returns.
To install this version immediately, download the full installer from our website or request a free trial. Once we enable the automatic update for this version, TaxCycle will prompt you to install it according to the priority set in your TaxCycle Options. (To deploy auto-update files from your network, see the Auto-Update Files page.)
Release Highlights
T1/TP1 2024 Ready for Paper Filing
This release enables the barcode on the T1 Condensed for T1 2024 returns.
With this release, we have removed the Preview watermark from most forms to allow you to mail any returns to the CRA or Revenu Québec that are ready and which you do not want to or cannot yet transmit through EFILE.
Due to the Department of Finance’s recent announcement as well as Revenu Québec’s announcement regarding the deferral of the increased capital gains inclusion rate, several forms, such as the T1 Schedule 3, are likely to change. We are waiting for instructions from both the CRA and Revenu Québec about the extent of the changes and the form revisions that will be required. You should not attempt to file, by mail on paper or through EFILE, a return that uses any of these forms until they are finalized and CRA has certified TaxCycle for these forms. The affected forms show the Preview watermark and are included in the list below.
At the CRA’s request, we have disabled the ability to print a return that has capital gains or losses. The ability to print will be restored in a later release.
The following forms still show the Preview watermark due to ongoing work:
Federal Forms
- Schedule 3 Capital Gains or Losses
- T657 Calculation of Capital Gains Deduction
- T691 Alternative Minimum Tax
- T936 Calculation of Cumulative Net Investment Loss (CNIL)
- T1170 Capital Gains on Gifts of Certain Capital Property
- T1206 Tax on Split Income
- T1237 Saskatchewan Farm and Small Business Capital Gains Tax Credit
- T2017 Summary of Reserves on Dispositions of Capital Property
- T2048 Capital Gains Deduction for Qualifying Business Transfers
- T1A Request for Loss Carryback
- Allowable business investment loss (ABIL) worksheet
- T2203 Provincial and Territorial Taxes for Multiple Jurisdictions and provincial 428MJ forms.
- Schedule 8 Canada Pension Plan Contributions and Overpayment
- Schedule 8 Québec Pension Plan Contributions
Québec Forms
- TP1 Schedule G Capital Gains and Losses
- TP-726.7 Capital Gains Deduction on Qualified Property
- TP-726.6 Cumulative Net Investment Loss
- TP-726.20.2 Capital Gains Deduction on Resource Property
- TP-729 Carry-Forward of Net Capital Losses
- TP-772 Foreign Tax Credit
- TP-776.42 Alternative Minimum Tax
- TP-232.1 Business Investment Loss
- TP-766.34 Income Tax on Split Income
- TP-1012.A Carry-Back of a Loss
- TP-22 Income Tax Payable by an Individual Who Carries on a Business in Canada, Outside Québec
- TP-25 Income Tax Payable by an Individual Resident in Canada, Outside Québec, Who Carries on a Business in Québec
- TP-726.30 Income Averaging for Forest Producers
- LE-35 Contribution and Deduction Related to the QPP or the CPP
For more information, see the T1 Paper Filing (T1 Condensed) help topic.
Resolved Issues
Status of File Carryforwards from 2023 to 2024
As of this release, the following 2023 to 2024 carryforwards are up to date. However, we strongly recommend you only perform batch carryforward on tax modules that are ready for filing in the list, below. We anticipate the rest of the modules will be finalized later in February.
Ready for batch carryforward:
- T1/TP1—TaxCycle, ProFile®, Taxprep®, Cantax®, DT Max®
- T2/CO-17—Carryforwards from TaxCycle, ProFile®, Taxprep®, Cantax®, DT Max®, creating files with year ends up until May 31, 2025.
- T4, T4A, RL-1/RL-2—TaxCycle, ProFile®, Taxprep®, Cantax®
- T4PS—TaxCycle, ProFile®, Taxprep®, Cantax®
- T4A-RCA—TaxCycle, ProFile®
- T5, RL-3—TaxCycle, ProFile®, Taxprep®, Cantax®
- T2202—ProFile®, Taxprep®
- T5018—TaxCycle, ProFile®, Taxprep®, Cantax®
- T3010/TP-985.22—TaxCycle, ProFile®, Taxprep®, Cantax®
- NR4—TaxCycle, ProFile®, Taxprep®, Cantax®
- Forms—TaxCycle, ProFile®, Taxprep®, Cantax®
- RL—TaxCycle, ProFile®, Taxprep®, Cantax®
Wait for batch carryforward:
- T3/TP-646, RL-16—TaxCycle, ProFile®, Taxprep®, Cantax®, DT Max®
- T5013/TP-600, RL-15—TaxCycle, ProFile®, Taxprep®, Cantax®
Status of 2024 Federal Returns and Slips
- T1—You may begin data entry. EFILE opens on February 24, 2025.
- T2—Certified to file tax year ends up to May 31, 2025.
- T3RET—You may begin data entry. EFILE opens on February 24, 2025.
- T3 slips—In progress. Wait to file 2024 returns.
- NR4 (in T3 module)—In progress. Wait to file 2024 returns.
- T4—Ready for filing.
- T4A—Ready for filing.
- T4PS—Ready for filing.
- T4A-RCA—Ready for filing.
- T5—Ready for filing.
- T5013-FIN—In progress. Wait to file 2024 returns.
- T5013 slip summary—In progress. Wait to file 2024 returns.
- T5018—Ready for filing.
- NR4 slips (standalone NR4 module)—Ready for filing.
- T4A-NR slips (in NR4 module)—Ready for filing.
- T3010—Ready for filing.
Status of 2024 Québec Returns and Relevés
- TP1—You may begin data entry. NetFile opens on February 24, 2025.
- TP-646—In progress. Wait to file 2024 returns.
- RL-16—In progress. Wait to file 2024 returns.
- TP-600—In progress. Wait to file 2024 returns.
- RL-15—In progress. Wait to file 2024 returns.
- RL-1—Ready for filing.
- RL-2—Ready for filing.
- RL-3—Ready for filing.
- RL-24—Ready for filing.
- RL-25—Ready for filing.
- RL-31—Ready for filing.
- TP-985.22—Ready for filing.
