RL-1 slip - Box O, code RL - Amount of patronage dividends paid to a member of an eligible cooperative

You received an RL-1 slip with an amount entered in Box O and the code RL for patronage dividends received during the year.

The total amount of patronage dividends paid to a member of an eligible cooperative in the form of preferred shares is taxable if it exceeds $100.

The total amount of dividends paid to a member of an eligible cooperative in the form of preferred shares must appear in Box O of the RL-1 slip with the code RL. If you are entitled to a deduction, it will be included in the "Additional information" section of the RL-1 with code "O-2" followed by the amount of the deduction for patronage dividends.

1- On the "Left side menu on the Interview tab", select "Interview setup".
2- On the screen on your right, go to the "Pension" group, check the box for "Pension income. Other income and split pension income (T4A, T4A(OAS), T4A(P), T4A-RCA, T4RSP, T4RIF, T1032)" and click "Next" at the bottom of the page.
3- Return to the "Left side menu on the Interview tab", select "Pension income, T4A". On the right-hand side page, choose "T4A - Pension, retirement, annuity, and other income".
4- On the page that appears entitled "T4A - Pension, retirement, annuity and other income", go to line "Box 030 - patronage allocations" and enter the amount shown in Box 030 of your T4A slip.

If the amount in Box O with code RL of the RL-1 slip is different from the one shown on the T4A, click on the "Maple Leaf" icon next to the corresponding federal box and a new box will be displayed where you can enter the amount for Quebec. This box will only appear if you have entered the federal amount first on the line "Box 030".

5- As to the deduction for patronage dividends received from a cooperative, you must enter it in the section "Footnotes relating to specific T-slip entries and Box 135 (RL-2, Box 235)". From the drop-down menu, choose "RL-1 (0-2) - Cooperative, Preferred shares. Deduction for tax deferred" and enter the deductible amount as shown on your RL-1 with Code 0-2.

However, for the federal government, it is possible that this amount will be entered on the line "Patronage allocations - non taxable" in Box 030 of the T4A slip.

If the amount in Box O-2 of the RL-1 is different from the one shown on the T4A, click on the "Maple Leaf" icon and a field for Quebec will appear.

If you have not received any T4A slip, enter $0,00 for the federal amount and click on the "Maple Leaf" icon to enter the amounts from boxes O and O-2 of the RL-1 slip.

The taxable amount will be transferred to line 13000 of the federal return and to line 154 of the Quebec return, and code 03 will be entered on Quebec line 153.

The amount deducted will be reported on line 297 of the Quebec return, and code 22 will be entered on line 296 of Quebec.

ID: 20191001132125DEX.xml

Webpage: KPA365-20191001132125DE.htm

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