CSN - How to enter information from the RL-10 slip
- Quebec
You may qualify for the tax credit for the purchase of
labour-sponsored funds (LSF) shares if, in the current tax year or
within the first 60 days of the following tax year, you acquired
Class A LSF shares.
These shares may also be considered as contributions to your
RRSP or to your spouse's RRSP.
To enter your contributions, please follow these steps:
1. On the "Left-side menu on the Interview tab", select
"Other information slips".
2. On the screen appearing on the right, choose "RL-10 -
Fonds de solidarité des travailleurs du Québec
(Fondaction)".
3. Once on this page, on the line ''Period'', click on
the drop-down menu and enter the period during which your payments
were made by choosing either ''Amounts paid after the 60th day
of 2019 '' or ''Amounts paid in the first
60 days of 2020 ''.
4. However, if you contributed to the FONDACTION CSN fund, enter
the amounts from Box G only, and the program will
automatically calculate the credit of Box H. The credit
will be claimed on appropriate lines of both the federal and Quebec
return.
Attention: If you have overpaid the Workers'
Fund, it is possible that you have amounts of enrollment in
boxes I and J. If so, please enter
them.
5. If these shares are contributions to your RRSP or your
spouse's, you must specify it. To do so, go to the "RRSP''
section, on line ''Amount of the contribution eligible for the
RRSP deduction", choose the option that applies to your
situation from the drop-down menu, and enter the amount of your
RRSP contribution if it is not the same amount as Box G of the
RL-10 slip.
6. Then, in the "RRSP contributions, limits" section
under the "Left-side menu on the Interview tab", you must
specify your RRSP deduction limit as per your latest Notice of
Assessment sent to you by the CRA. You should not re-enter the
information of the RL-10 in this section, if you have already
entered the information on the RL-10 page under ''RL-10 -
Québec labour-sponsored tax credit''.
Your deduction for your RRSP will be carried over
on line 20800 of your federal return, as well as on
line 214 of your Quebec tax return, and the tax credit for the
labour-sponsored fund will be entered on line 41400 of
federal Step 5, as well as on line 424 of the Quebec return if
applicable.
The program will carry over your credit, as appropriate, if you
need it to reduce your federal or provincial amount of tax
payable.
In the "Review" tab, a "Warning" will be
displayed, asking you to review your data. Please disregard this
message as the program considers the maximum allowable credit.
For more information about this topic, 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/deductions-credits-expenses/lines-413-414-labour-sponsored-funds-tax-credit.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/400-to-447-income-tax-and-contributions/line-424/
ID: 20191204090134DEX.xml
Webpage: KPA365-20191204090134DE.htm
