T1212 - Statement of Deferred Security Options
Benefits
The deferred benefits sold in 2019 must be included in
your employment income for the year in which you disposed of the
security, have become non-resident or are deceased.
To enter the deferred benefits related to stock
options and generate the T1212 form, please follow
the steps below:
1. On the "Left-side menu on the Interview
tab", select "T4 and employment income".
2. On the page appearing on the right, scroll down to
"T1212" group, and click on the plus
"+" icon to the right of the line "T1212 - Deferred
employee stock options benefits".
3. For the line "Opening Balance of Deferred Stock
Option Benefits", enter the deferral of shares acquired before
March 4, 2010, which you had exercised.
4. Under the line "Stock option benefit that can no
longer be deferred", enter the amount sold for these
shares.
The closing balance will be shown on your notice of
assessment.
The amount entered will be reported on line 10100
of the federal return and 50% will be claimed as a
deduction for stock options and stock on line 24900.
Form T1212 will be generated by the
program.
For residents of Quebec, the amount will be
entered on line 101 and the deduction will be reported on line 297
of the Quebec return.
For more information, please visit the following CRA
links:
https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1212.html
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/financial/security-options/option-benefit-deductions.html
ID: 20191218085348DE.xml
Webpage: KPA390-20191218085348DE.htm