Undeducted Labour-sponsored funds shares -
Federal
If you became the first registered holder of approved shares in
the first 60 days of 2019 and did not claim the
whole credit for them on your 2018 return, you can claim the unused
part of the credit on your 2019 tax return.
If you want to claim the unused credit this year, please follow
the steps below:
1 - On the "Left side menu on the Interview tab",
select "Other information slips".
2. On the screen to your right, choose the option that
corresponds to your situation, click on the
plus "+" icon to the right of the
line "RL-10 - Quebec labour-sponsored tax credit
(FTQ)" or "RL-10 - Quebec labour-sponsored tax
credit (Fondaction)".
3. On the page that appears, on the "Period"
line, please leave blank the drop-down menu.
4. Go to the bottom of the page under "Unclaimed FTQ
shares from prior years" or "Unclaimed FONDACTION
shares from prior years" according to the option you chose
in point 2.
5. Select the line "Federal cost of shares acquired in
first 60 days of 2019 " and enter the value of the shares
that have not been deducted in the previous year.
6. Since you are simply claiming an unused credit carried
forward, you do not have to enter any other information.
The program will report the credit on line 41400 of Step
5 of the federal tax return, but only if required to
reduce your tax payable.
For more information, please visit the following link:
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
ID: 20191002135919DE.xml
Webpage: KPA385-20191002135919DE.htm
