I received to T3 forms. Where to add them?

Hi @zareh-n 

Thanks for your question. 

The complete TurboTax guide to T3 is available HERE.
To guide you through the filing process, please follow the steps below:

1. Know your deadline

You must file the T3 return by the deadline, which is no later than 90 days after the trust’s tax year end. Ensure you meet this deadline and include any payments for balances owing.

2. Gather necessary documents

Collect all essential documents, including the trust deed, financial statements, supporting schedules, and forms. Compile financial statements reflecting the trust’s income, deductions, and allocations.

3. Complete tax forms

Fill out the required forms, including:

• T3RET (T3 Trust Income Tax and Information Form)
• T3SUM (Summary of Trust Income Allocations and Designations)
• T3 slip (Statement of Trust Income Allocations and Designations).

You also need to report beneficial ownership information on Schedule 15.

1. Submit the return: File your T3 return electronically or by traditional mail. For electronic filing, you need to fill out form T183TRUST Information Return. Consider using a My Trust Account for efficient filing, which allows you to view and edit trust information.
2. Estimate income if necessary: If you haven’t received all relevant information slips, you can estimate the income. However, if differences occur between your estimations and later received information slips, you must file for reassessment and submit the required documents to the CRA.

If your trust is filing taxes for the first time, it will need a Trust Account Number to file a T3 return electronically.