I am new to T3 Trust returns. I have a client who passed away. He has a will that has already passed through probate. All I have for information is a copy of the will that lists the assets and beneficiaries. Can I complete this T3 Trust return using the information in the Will or do I have to wait for T slips.
I would recommend starting off with the CRA trust guide here the
trust guide here. There is a great table that reviews
the different type of trusts. Other key questions are addressed like: who
should file, when to file, what to file, restrictions, and review of specific
forms and schedules.
As for the question regarding Income (tslips for the trust
return). There are multiple forms where you can report income for the trust
(see screenshot attached). Once the income is entered, then you can complete allocation
to the beneficiary (and issues t-slips from the trust) or leave the income to
be taxable to the trust. Please see if this applies to your case and call in if
any further questions regarding flow of information on Trust returns in