Import Statements of Self-Employed Individuals

Personal Taxprep allows you to import tax data from the return of a taxpayer who is a self-employed individual into the return of his or her associate (an associate must not be the spouse, when the spouse’s return is being completed at the same time).

The data that can be imported is found in the following forms:

  • T776, Statement of Real Estate Rentals
  • T1163, Statement A - AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals
  • T1273, Statement A - Harmonized AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals
  • T2042, Statement of Farming Activities
  • T2121, Statement of Fishing Activities
  • T2125, Statement of Business or Professional Activities

To import data from the return of a self-employed individual into the associate’s return, proceed as follows:

  1. Display the associate’s return. It can be a current-year return or a planner return.
    Note: The return must be saved for the import process to work.
  2. Display the statement copy which will receive the imported data.
  3. On the File menu, click Import Data, then click the statement you want to import data from.
  4. Select the client file containing data to import.
    If the operation is made from a planner return, in the     Files of type box, select the "Taxprep Files" file type to import data from the current-year return or the "Taxprep Planner Files" file type to import data from the planner return.
  5. Select the statement copy from which the data is to be imported.
  6. Click OK.

The name of the source client file as well as its location are entered on the statement in the associate's return.

Importing a fiscal year converted on December 31

If you want to import a statement for a self-employed individual whose fiscal year will be converted on December 31, you will have to perform the import from the copy of the statement for which the fiscal year does not end on December 31. Although the second copy of the statement is not displayed in the Import dialog box, during the import process, Personal Taxprep will automatically create a second copy of the statement in which will also be imported data covering the period between the end of the first fiscal year and December 31.