How do I enter contributions made to a LSVCC fund?

1. Complete the Personal info and Tax profile portions of the TurboTax EasyStep interview. This unlocks the Tax home screen.
   • During the Tax Profile section of the interview, at the we'll check for credits and deductions screen, select Labour Sponsored Venture Capital Corporation Shares (LSVCC).
2. From the Tax home screen, under Add to your return enter Labour and select Relevé 10 Tax Credit With respect to a Labour Sponsored Fund.
3. At the Relevé 10 - Labour Sponsored Fund tax credit screen, fill in the form using the information in the boxes from your Relevé 10 slip, then select Done with Relevé 10.
4. If you have another Relevé 10 slip for entry, select Enter new Relevé 10 and repeat the previous step, otherwise select Done with Relevé 10.
5. You're done, unless you contributed your LSVCC funds to your RRSP and you are going to claim an RRSP deduction, in which case:
   • From the Tax home screen, under Add to your return, enter registered and select Registered Savings Plan Profile.
   • At the Your registered savings plan profile for 2024, check the box for Made RRSP contributions during 2024 or the first 60 days of 2025. 
   • At the What's your RRSP/PRPP deduction limit? screen, enter your RRSP deduction limit from your previous year’s CRA notice of assessment.
   • At the RRSP Contribution screen, under RRSP slip #1, select the Contribution Period and enter the net cost of your RRSP contributions from your LSVCC funds.
   • Select Enter New RRSP if applicable, otherwise select Done With RRSPs.

For more information, see 424 – Tax credit for a labour-sponsored fund.

1. Complete the Personal information and Tax profile portions of the TurboTax EasyStep interview. This unlocks the Tax home screen.
   • During the Tax Profile section of the interview, at the we'll check for credits and deductions screen, select Labour Sponsored Venture Capital Corporation Shares (LSVCC). 
2. From the Tax home screen, under Add to your return, enter Labour and select T5006 - Registered LSVCC Shares.
3. At the T5006 - Registered Labour-Sponsored Venture Capital Corporation Shares screen, fill in the form using the information in the boxes from your T5006. 
4. Select either:
   • Enter New T5006 and repeat the previous step, or if done
   • Select Done with T5006
5. Atthe T5006 - Unused Credits screen, enter any applicable amounts, then select Continue.
6. At the T5006 - Summary screen, confirm that your T5006 slips are reflected there, select Done With T5006.
7. You're done, unless you contributed your LSVCC funds to your RRSP and you are going to claim an RRSP deduction, in which case:
   • From the Tax home screen, under Add to your return, enter registered and select Registered Savings Plan Profile.
   • At the Your registered savings plan profile for 2024 screen, check the box for Made RRSP contributions during 2024 or the first 60 days of 2025. 
   • At the Starting with What's your RRSP/PRPP deduction limit? screen, enter your RRSP deduction limit from your previous year’s CRA notice of assessment, then select Continue.
   • At the RRSP Contribution screen, under RRSP slip, select the Contribution Period and enter the net cost of your RRSP contributions from your LSVCC funds.
   • Select Enter New RRSP if applicable and repeat the previous step, otherwise select Done With RRSPs.

1. Complete the Introduction and Profile sections of TurboTax, including: at the What happened to you in 2024 screen, if applicable, select Yes for:
   1. Do you have any RRSP, PRPP, other retirement plan, Home Buyers Plan (HBP), Lifelong Learning Plan (LLP), or LSVCC share information to enter and/or
   2. Have you made contributions to investments in Labour Sponsored Venture Capital Corporation Shares (LSVCC)?
   3. Relevé 10 - Tax Credit with Respect to a Labour-Sponsored Fund.
2. If you have a Relevé 10 slip, select the Find icon from the icon menu, enter Labour, then select Relevé 10 Tax Credit With respect to a Labour Sponsored Fund, and select Go.
3. At the Entering your federal T-slips and relevé slips screen, ensure the Relevé 10 box is checked, and continue.
4. Proceed through entering your income information until you arrive at the Relevé 10 - Labour sponsored fund tax credit screen. Enter the details from your Relevé 10, then if you have another slip, select Enter New Relevé 10. If not, select Done With Relevé 10.
5. At the Relevé 10 - Summary screen, select Done With Relevé 10.
6. If you have a T5006 slip, select the Find icon from the icon menu, enter LSVCC, select LSVCC Credit, and select Go.
7. At the LSVCC - Provincial/Territorial screen, enter the required information from your T5006 slip(s), then continue.
8. You're done, unless you contributed your LSVCC funds to your RRSP and you are going to claim an RRSP deduction, in which case:
   1. Select the Find icon from the icon menu, enter RRSP, select RRSP limit for 2024, and select Go.
   2. At the What's your RRSP/PRPP deduction limit screen, enter your RRSP deduction limit, then continue.
   3. At the RRSP Contribution screen, under RRSP slip enter the details of your RRSP contribution receipt. 
   4. Select either: Enter New RRSP and enter your next slip, or if you're done, select Done With RRSPs.
   5. At RRSP Contribution Summary, you can see your RRSP contribution and make any changes as needed, or select Done With RRSPs.

1. Complete the Introduction and Profile sections of TurboTax, including: at the What happened to you in 2024 screen, if applicable, select Yes for:
   1. Do you have any RRSP, PRPP, other retirement plan, Home Buyers Plan (HBP), Lifelong Learning Plan (LLP), or LSVCC share information to enter and/or
   2. Have you made contributions to investments in Labour Sponsored Venture Capital Corporation Shares (LSVCC)?
2. After completing the personal and income profiles, select the Find icon from the icon menu, enter lsvcc, and select LSVCC Credit, and select Go.
3. At the LSVCC - Provincial/Territorial screen, enter the cost of your LSVCC shares, and government assistance if any, and select Continue.
4. At the LSVCC Saskatchewan screen, enter the investment amount as being for a LSVCC registered either provincially or federally.
5. You're done, unless you contributed your LSVCC funds to your RRSP and you are going to claim an RRSP deduction, in which case:
6. Select the Find icon from the icon menu, enter RRSP, select RRSP limit for 2024, and select Go.
7. At the What's your RRSP/PRPP deduction limit screen, enter your RRSP deduction limit, then select Continue.
8. At the RRSP Contribution screen,enter the details of your RRSP contribution receipt. Either:
   1. Select Enter New RRSP and enter your next slip or,
   2. If you're done entering receipts, select Done With RRSPs.
9. At the RRSP Contribution Summary screen, you can see your RRSP contribution and make any changes if needed, or select Done with RRSPs.