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
