Tax-BenefitUse the keyword Tax-Benefit to enter the type of taxable benefits to be entered on line 43 or 44 of the federal trust return or on line 74 or 75 of the Quebec return.If expenses were claimed on the return that relate to the upkeep, maintenance and taxes on a property used by a beneficiary, and these expenses were paid out of the income of the trust, the beneficiary is required to report these amounts on his/her return. Therefore, these amounts will be deducted again from the trust's income on line 47 federally and on line 81 for Quebec. In order to offset this double deduction, the expenses must be added back into the trust's income. If the trust paid benefits to a beneficiary such as amounts for personal or living expenses, the beneficiary must include the value of these benefits into his income in the year they were paid. The value of these benefits will be deducted as income allocations and designations on line 47 federally and on line 81 for Quebec. However, because the trust cannot deduct these amounts, they must be added back into its income. The following options are applicable for the keyword Tax-Benefit.
Use the keyword Amount.ben to enter the amount of taxable benefits to be entered on line 43 or 44 of the federal trust return or on line 74 or 75 of the Quebec return. Use [Alt-J] to enter different values for other jurisdictions.
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See the CRA's general income tax guide:
Amount.ben 