Studiotax Tax Software

[Darts]

I think there are some Studiotax users on the Board.

I think there is a flaw in the software.

1) I go to Line 12000 on the T1 to report my $150 of eligible Canadian dividends. It takes me to a worksheet.

2) I input $150 on the worksheet.

3) I come back to Line 12000 and see $300. I am unable to change the $300 to the correct $150 no matter what I do.

 

[unassuming]

I think there are some Studiotax users on the Board.

I think there is a flaw in the software.

1) I go to Line 12000 on the T1 to report my $150 of eligible Canadian dividends. It takes me to a worksheet.

2) I input $150 on the worksheet.

3) I come back to Line 12000 and see $300. I am unable to change the $300 to the correct $150 no matter what I do.

Try clicking twice on the $300 on line 12000, and it should change to $150, I've come across this glitch on other lines before.

 

[Jenesis]

Try clicking twice on the $300 on line 12000, and it should change to $150, I've come across this glitch on other lines before.

Ya, there is some double click issues. It was driving me nuts.

Remember Studio Tax has a fee this year except for below a certain income level.

 

[Darts]

Thanks.

Studiotax is not the most user friendly tax software, but as Jen mentioned, it used to be free (now $15). The freebie version would not apply to guys who can afford to pay $500 for sex LOL!. Also, it's the devil I know or used to know.

BTW: I couldn't do my tax sooner because I was waiting for a couple of T3's and also a couple of amended T5's. Now, I have two T5's (the original and the amended) from the same institutions, I'm concerned that the CRA will add the two and taxed me on double the real income. I suggested to the institutions the amended T5 should show only the top-up.

 

[Indiana]

I must be the last person to fill out my return by hand lol.

Would be interesting to use a program to compare how I did though.
What would be a good cheap one to use?

 

[JohnHenry]

I must be the last person to fill out my return by hand lol.

Would be interesting to use a program to compare how I did though.
What would be a good cheap one to use?

You can use studio tax to do your return for free, you just can't file it without paying. It is free if your taxable income is less than 20k.
Darts: the issuer of your incorrect T5 has to file a revised summary that will replace the original, not append.

 

[Darts]

I must be the last person to fill out my return by hand lol.
LOL I might go back to paper if Studiotax keeps doubling my income. Being taxed once is bad, being taxed twice on the same income is beyond painful.

Would be interesting to use a program to compare how I did though.
What would be a good cheap one to use?
Right now I would not recommend Studiotax. I spent so much time on it it already, I could have done a paper tax return by now.

Question: Does anyone know if they unsealed the CRA dropoff boxes in front of 1 Front Street West ?

 

[Jenesis]

You can use studio tax to do your return for free, you just can't file it without paying. It is free if your taxable income is less than 20k.
Darts: the issuer of your incorrect T5 has to file a revised summary that will replace the original, not append.

yes I should have said that.

You could always copy from Studio Tax to a hand written form and send it in that way but for $15.00, it would just seem easier to pay.

 

[Darts]

Darts: the issuer of your incorrect T5 has to file a revised summary that will replace the original, not append.

Thanks. It's bad enough that Studiotax doubled my dividend income, it would be an unmitigated disaster if the CRA also double counted the two T5's.

Be really careful if you use Studiotax for anything because it has a terrible habit of double counting your income. Here is another example.
There's a line that ask for your total Canadian and foreign investment income so I entered $17. Then it asked for the foreign income so I entered $5 (which is already included in the $17) so Studiotax added the $5 again and showed $22 as my Canadian and foreign investment income.

 

[unassuming]

I must be the last person to fill out my return by hand lol.

Would be interesting to use a program to compare how I did though.
What would be a good cheap one to use?

Actually, If you haven't mailed in your return yet, what you can do is this:

Down load the 2020 Studio Tax (It's free to down load, you only get charged $15 if you are going to file the return electronically)
Fill in the return
Compare the saved electronic copy with your hand written return.
If it's to your satisfaction, print off 2 copies of the electronic return (keep one for your own records) and snail-mail in the other printed copy . don't forget to sign and date it.

No $15 out of your pocket!

 

[K Douglas]

I think there are some Studiotax users on the Board.

I think there is a flaw in the software.

1) I go to Line 12000 on the T1 to report my $150 of eligible Canadian dividends. It takes me to a worksheet.

2) I input $150 on the worksheet.

3) I come back to Line 12000 and see $300. I am unable to change the $300 to the correct $150 no matter what I do.

I've never used Studio Tax. I use Profile and its the most user friendly by a country mile.
I'm assuming that you've saved, logged off then logged back in and its still showing the $300?
Is there a function cell override key you can use?

 

[Darts]

I'm assuming that you've saved, logged off then logged back in and its still showing the $300?
Is there a function cell override key you can use?

I haven't logged back in yet (too scare). It might show $3million now. LOL!

 

[unassuming]

The beauty of StudioTax is that your tax info stays with you, saved on your computer, it isn't saved anywhere else.

 

[Darts]

The beauty of StudioTax is that your tax info stays with you, it isn't saved anywhere else.

Yes and I use a different computer than the one I use for TERB and my naughty pics. That computer is used only when I download the .exe file and when I Netfile. But I really hate paying tax on income that is double counted LOL.

 

[unassuming]

I haven't logged back in yet (too scare). It might show $3million now. LOL!

Why don't you delete that return you've started, and start a new one, but enter $75 for the dividend entry. If it is doubling the entry amount , it should show $150.

 

[xmontrealer]

I have been using TurboTax Standard for many years. 2020 was $35 from Amazon plus tax.

Allows 8 returns so I do my whole family. Allows Netfile at no extra cost. Returns saved on my computer only.

None of the issues mentioned above. My NOA's always agree with the returns I filed.

Fwiw...

 

[Darts]

Why don't you delete that return you've started, and start a new one, but enter $75 for the dividend entry. If it is doubling the entry amount , it should show $150.

Thanks for the suggestion but it's reached the point where I have already spent more time on Studiotax than if I had done the return manually. I've used Studiotax for several years and never experienced these issues. (Maybe that is why they are now charging a $15 fee so the users can double his/her taxable income. Ok, I kid, maybe.)

 

[kastoric]

The beauty of StudioTax is that your tax info stays with you, saved on your computer, it isn't saved anywhere else.

Correct. Genutax & Turbotax are pretty good too but your deets are saved on their servers.

 

[unassuming]

Thanks for the suggestion but it's reached the point where I have already spent more time on Studiotax than if I had done the return manually. I've used Studiotax for several years and never experienced these issues. (Maybe that is why they are now charging a $15 fee so the users can double his/her taxable income. Ok, I kid, maybe.)

I experimented with the T5 entry page and the T5 work sheet.

To clear that amount of $300, try clearing the amounts in the fields of the T5 entry page and it's work sheet, it worked when I entered a bogus amount on an unfinished return for a family member.

 

[Darts]

I experimented with the T5 entry page and the T5 work sheet.

To clear that amount of $300, try clearing the amounts in the fields of the T5 entry page and it's work sheet, it worked when I entered a bogus amount on an unfinished return for a family member.

Thanks again but it has reached a point of frustration where doing the return manually looks really appealing. Thank goodness, the CRA still accept paper returns.

I have a feeling that Studiotax is under new management and that is why they are charging a $15 fee and the software is all f----ed up. But, the CRA is suppose to vet and approve the software, maybe that is why it is doubling your income so Trudeau can collect more taxes (I kid, maybe).