RL-1 slip - Box O, Code RK

You have received an RL-1 slip with an amount entered in Box O and Code RK, because the estate has received death benefits.

NOTE: If you are the sole recipient of death benefits for a deceased person, you are entitled to an exemption of up to $10,000. Please deduct the portion of the exemption of your T4A slip in Box 106. If you are not the sole beneficiary of these benefits, please contact the Canada Revenu Agency (CRA) or Revenu Québec (if applicable) for more information.

For more information, please consult the following links:

For the CRA:

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-130-other-income/line-130-death-benefits-other-than-canada-quebec-pension-plan-death-benefits.html

For Revenu Quebec:

https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completing-your-income-tax-return/line-by-line-help/96-to-164-total-income/line-154/point-3/

To report these benefits, please follow the steps below:

1. On the "Left-side menu on the Interview tab" select the "Interview setup".

2. On the right-hand side of the screen, 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" and select "T4A and pension income".

4. On the page generated on the right, click on the plus "+" icon to the right of the line "T4A - Pension, retirement, annuity and other income".

5. On the new page generated, go to the line "Other Information (click on the triangle to see the list of choices)", and from the drop-down menu on your right, choose "(106) Death benefit" and enter the amount that appears on your T4A slip, less any exemption.

6. For Quebec residents: If the amount in Box O of the RL-1 differs from the amount shown on the T4A slip, click on the "Maple Leaf" icon of the corresponding box and a new box will be displayed where you can enter the amount for Quebec. This box will only be displayed if you have entered the federal amount first.

7. If you have not received a T4A slip, enter $0.00 for the federal amount and click on the "Maple Leaf" icon to enter the amount from Box O of the RL-1 slip.

The amount will be transferred by the program to line 13000 of the federal return and to line 154 of the Quebec return, and Code 03 will be displayed on Quebec line 153.

Please keep the documents that you have received, as the CRA and/or Revenu Québec may request additional information.

ID: 20191211133753DE.xml

Webpage: KPA365-20191211133753DE.htm

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