Canadian Money Forum banner

1 - 3 of 3 Posts

·
Registered
Joined
·
232 Posts
Discussion Starter #1
Hi,

I had been using StudioTax to file my late father's taxes the last couple years. I've finished the final return and am preparing to mail it out. From what I've read, I need to file a return for rights and things after I get the NOA for 2019 because he was given a retroactive OAS payment in early 2020.

The CRA guide sounds like I would just write "70(2)" at the top of the first page of the T1, otherwise I would just use the current tax package. Is that right?


Has anyone used StudioTax for one of these returns? Is it just like doing a 2019 return except putting the details in for the 2020 OAS payment? Will CRA reject it because it says 2019 on the print out? I would think it should be OK because the CRA guide says to just get a tax package, which I assume could include whatever's standard on StudioTax 2019?

Is there some other software or better way to go about doing this? Thanks.
 

·
Registered
Joined
·
10,036 Posts
Since there would be no tax owing, whether using the 2019 tax package, or waiting for the 2020 tax package with COLA adjustments, I'd suggest just using the 2019 package, strike out the word 2019 and write 2020 above it. It would take an extremely dense assessor in CRA not to understand and accept the 70(2) package accordingly. At worst, they would send a letter asking you to wait until at least January 2021 to re-file it.

Studio Tax is fine since it is a 70(2) permits all the standard deductions a normal T1 does, although you will have to finesse death date. Perhaps use Dec 31, 2019 in the software and then on the paper copy, strike it through and write actual date of death. I can't remember what I did in 2015 for my mother. I think I just used the T1 PDF Fillable form off the CRA site because it was simple to do...One data entry for OAS.
 
1 - 3 of 3 Posts
Top