How do you roll forward an existing return in both the T1 and T2 Software?

Question

Accepted Answer

In the most current year return, certain forms have prior year amounts that need to be populated or you don’t want to have the same information entered each year

The roll forwarding option takes care of this

Good examples include in the Review ID section, there are sections for taxpayer, spouse and status that automatically pick up values from your last year’s return without you having to manually do the work for T1 tax returns

Other examples include family members in your family workchart that are rolled forward from prior years for T1 tax returns

Another good example is your employer’s name on a T4 and your province of employment for T1 tax returns

For T2 tax returns, many taxpayers are concerned about rolling forward prior G125 (Income Statement) and G100 (Balance Sheet) numbers

For you to roll forward, you need to go to file -> roll forward

You can only roll forward a file that was created in the previous year software. T1 Example (see images below):

Your current year software is the T1 2021 Software

You can only roll forward a .t20 file to the 2021 Software

You won’t be able to roll forward a .t19 file to the 2021 software

You can only roll forward a file that was created in the previous year software. T2 Example (see images below):

Your current year software is the T2 2020 Software

You can only roll forward a. T219 file to the 2020 Software

You won’t be able to roll forward a. T218 file to the 2020 software