In this article, we’ll explore everything you need to know about transferring your 2023 tax data to TurboTax 2024, including step-by-step instructions, benefits of transferring data, compatibility considerations, troubleshooting tips, and how to get started with the latest version at turbotax.ca/download.

Why Transferring Tax Data Matters

Before diving into the mechanics of transferring data, let’s examine why this feature is valuable:

1. Saves Time

Manually re-entering your personal details, carry-forward amounts, RRSP contributions, dependents, and other tax information can be tedious. Transferring your 2023 data saves time and helps you get a head start on your 2024 return.

2. Reduces Errors

Manually entering tax data increases the risk of errors. Transferring data directly ensures accuracy, which is critical for avoiding audits or incorrect refund calculations.

3. Continuity of Information

Many tax deductions and credits, such as tuition carryforwards, capital losses, and RRSP contribution room, roll over from one year to the next. Transferring your previous tax data ensures you don’t miss out on these benefits.

Can I Transfer My 2023 Tax Data?

Yes, TurboTax supports data transfer from the prior tax year — including 2023 to 2024. Whether you used TurboTax Online or TurboTax Desktop for your 2023 return, you can move your information seamlessly into your 2024 return.

There are two primary ways TurboTax users file their taxes:

TurboTax Online

TurboTax Desktop (download version)

Both support prior year data transfers, but the process differs slightly for each.

Transferring Data with TurboTax Online

TurboTax Online automatically imports your prior year data if you used the online version for 2023.

Steps:

Log in to your TurboTax account at turbotax.ca/download or the standard login page.

When you start your 2024 return, TurboTax will prompt you to import your 2023 return.

Click “Yes” to import, and TurboTax will transfer all relevant information — including personal info, carryforwards, and dependents.

Review the imported data to ensure everything looks correct.

Note: You must use the same login credentials to access your previous return. If you used a different account in 2023, data import won't be automatic.

Transferring Data with TurboTax Desktop

If you used the desktop version of TurboTax (the one you download and install), transferring your 2023 tax data to 2024 is also straightforward.

Steps:

Visit turbotax.ca/download to download and install the 2024 version of TurboTax.

Launch TurboTax 2024.

On the startup screen, you’ll see an option to "Find a Tax File to Transfer."

Browse to the location where you saved your 2023 tax file (usually with a .tt23 extension).

Select the file and follow the prompts to complete the transfer.

TurboTax will confirm the details and import relevant data into your new return.

Tip: Your 2023 file must be saved on your computer for the transfer to work. If you used TurboTax on another device, move the file to your current computer first.

What Information Is Transferred?

When you transfer your 2023 tax data into TurboTax 2024, the program moves over all the key data you need to make your new return easier:

Personal Information (Name, SIN, Address)

Marital Status and Dependents

RRSP Contributions and Deduction Limits

Tuition Amounts and Education Credits

Carryforward Balances (e.g., capital losses)

Employment Information (employers, T4 history)

Investment Accounts

Direct Deposit Information

NETFILE Access Code (if available from CRA)

However, TurboTax does not transfer actual tax slips (like your 2023 T4s, T5s, etc.), as these need to be updated each year based on new income and deductions.

System Requirements and File Compatibility

Before transferring data, make sure you're using a compatible version of TurboTax. You can only transfer files forward, not backward — meaning you can transfer from 2023 to 2024, but not the other way around.

Supported Files:

.tt23 files (TurboTax 2023)

.tt22 files (from 2022, for context)

Online TurboTax user data (linked via account login)

If you're unsure whether you have the correct version, head to turbotax.ca/download to get the latest software update and avoid any compatibility issues.

Troubleshooting Data Transfer Issues

In some rare cases, users encounter issues when trying to transfer their data. Here’s how to troubleshoot:

1. File Not Found

Make sure your 2023 file is stored in an accessible folder.

Check the default save location: Documents > TurboTax > 2023.

2. Corrupted File

If your file won't open, it might be corrupted. Try restoring from a backup.

If using TurboTax Online, try clearing your browser cache or switching browsers.

3. Wrong File Format

Ensure you’re selecting a .tt23 file and not a PDF or print copy.

TurboTax requires the original working file, not a saved report.

4. Using a New Computer

Move your .tt23 file from the old device to the new one using a USB or cloud storage.

Tips for a Smooth Transfer Process

To make the data transfer process as seamless as possible:

Back up your 2023 return before transferring it.

Keep all TurboTax versions up to date.

Use the same TurboTax account online each year.

Check imported data for accuracy before filing.

If using a download version, always store your tax files in a known, backed-up location.

Benefits of Using TurboTax Year Over Year

By consistently using TurboTax annually, you not only streamline your filing process but also build a digital archive of your financial history. This helps in:

Audit Preparation: Having organized historical data can be crucial if you’re audited.

Loan Applications: Lenders may ask for your last few years of returns.

Retirement Planning: Reviewing your carryforwards and RRSP history can help you optimize contributions.

Plus, with every upgrade, TurboTax introduces new features and smarter deduction-finding algorithms. For instance, TurboTax 2024 includes enhanced auto-fill capabilities, mobile-friendly features, and deeper integration with CRA's My Account.

You can always access the latest TurboTax software at turbotax.ca/download.

Conclusion

So, can you transfer your 2023 tax data to TurboTax 2024? Absolutely. Whether you used the online or desktop version last year, TurboTax is built to support efficient, accurate, and stress-free transitions between tax years.

By transferring your previous data, you’re saving time, minimizing the chance for errors, and maximizing your potential refund. TurboTax's smart tools and support make tax filing not only manageable but actually convenient — and by visiting turbotax.ca/download, you can make sure you’re using the latest version equipped for the 2024 tax season.

Don’t start from scratch. Let TurboTax carry the load so you can focus on what matters most — getting your maximum refund, fast and hassle-free.