T4A slip - Box 030You received a T4A slip with an amount shown in Box 030 for patronage dividends that exceed $100 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. However, this amount may be deducted in whole or in part if there is a note on the T4A slip that shows the amount along with the words "Deduction for patronage dividends".
1- On the "Left side menu on the Interview tab", select the "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)".
3- Return to the "Left side menu on the Interview tab", select "Pension income, T4A". On the right page, choose the "T4A - Pension, retirement, annuity, and other income" option.
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.
5- In principle, the rebates are declared that in "Box 030 - Patronage allocations" however, it is possible that the rebate is entered in the line "Patronage allocations - non taxable" of the box 030.
For Quebec residents, if the amount of Box O with code RL in the RL-1 is different from the one shown on the T4A, enter the amount of the T4A and click the icon of the "Maple Leaf". A box for Quebec will then appear for you to enter the amount for Quebec. This box will only appear if you have previously entered the federal amount in "Box 030" section.
However, it is possible that in Quebec, the total amount is entered in box O with the code RL and at the bottom of the RL slip you also have a code "0-2" to indicate the amount of the non-taxable rebate.
In this case, go to line "Footnotes relating to specific T-entries and Box 135 (RL-2. Box 235)", following this line from the drop-down menu on the right choose the option "RL-1 (0-2) - Cooperative. Preferred shares. Deduction for tax deferred" and enter the amount shown on the RL-1.
The taxable amount will be transferred to line 13000 of the federal return and for Quebec residents, to line 154 of the Quebec return.
For Quebec residents, the deduction will be claimed on line 297 of the Quebec return, and code 22 will be entered on line 296.
ID: 20191001133752DEX.xml
Webpage: KPA390-20191001133752DE.htm