How do I enter contributions made to a LSVCC fund?

To optimize your results, complete the personal information and tax profile sections of TurboTax, including:

• At What happened to you in 202X, if applicable, indicate that you Contributed to a retirement plan, such as an RRSP, PRPP, Registered Pension Plan.
• At Check all that apply, select the boxes applicable to you including:
  • Made contributions to investments in Labour Sponsored Venture Capital Corporation Shares (LSVCC):
    • T5006
    • Relevé 10

1. After completing the personal and tax profiles, select the Find icon from the icon menu, then enter Relevé, select Relevé 10 Tax Credit With respect to a Labour Sponsored Fund, and select Go.
2. At Relevé 10 - Labour Sponsored Fund tax credit, fill in the form using the information in the boxes from your Relevé 10 slip, then select Done with Relevé 10.
3. If you have another Relevé 10 slip for entry, select Enter new Relevé 10 and repeat, otherwise select Done with Relevé 10.
4. Select the Find icon from the icon menu, enter T5006, then select T5006 Registered Labour-Sponsored Venture Capital Corporation Shares and select Go.
5. At T5006 - Summary, confirm that your T5006 slips are reflected there, then select Done With T5006.
6. At Relevé 10 - Summary, confirm that your Relevé 10 slips are reflected there, then select Done With Relevé 10.
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:
8. From the side navigation panel, select Registered Savings Plans > RRSPs > RRSP Limit for 202X.
9. Starting with What's your RRSP/PRPP deduction limit? enter your RRSP deduction limit, then select Continue.
10. At RRSP Contribution select the Contribution Period and enter the net cost of your RRSP contributions from your LSVCC funds.
11. Select Enter New RRSP if applicable, otherwise select Done With RRSPs.
12. At RRSP Contribution Summary, confirm the contributions displayed and select Done with RRSP.

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

To optimize your results, complete the personal information and tax profile sections of TurboTax, including:

• At What happened to you in 202X, if applicable, indicate that you Contributed to a retirement plan, such as an RRSP, PRPP, Registered Pension Plan.
• At Check all that apply select the boxes applicable to you including:
  • Made contributions to investments in Labour Sponsored Venture Capital Corporation Shares (LSVCC):
    • T5006

1. After completing the personal and tax profiles, select the Find icon from the icon menu. Enter T5006, select T5006 Registered Labour-Sponsored Venture Capital Corporation Shares, and select Go.
2. At T5006 - Summary select Enter New T5006.
3. At T5006 Registered Labour-Sponsored Venture Capital Corporation Shares, fill in the form using the information in the boxes from your T5006. Then for your next slip, select Enter New T5006 and repeat, or if done, select Done with T5006.
4. At T5006 - Unused Credits, enter any applicable amounts, then select Continue.
5. At T5006 - Summary, confirm that your T5006 slips are reflected there, select Done With T5006.
6. You're done, unless you contributed your LSVCC funds to your RRSP and you are going to claim an RRSP deduction, in which case:
7. From the side navigation panel, select Registered Savings Plans > RRSPs > RRSP Limit for 202X.
8. At What's your RRSP/PRPP deduction limit? enter your RRSP deduction limit, then select Continue.
9. At RRSP Contribution select the Contribution Period and enter the net cost of your RRSP contributions from your LSVCC funds.
10. Select Enter New RRSP if applicable, otherwise select Done With RRSPs.
11. At RRSP Contribution Summary, confirm the contributions displayed and select Done with RRSP.

To optimize your results, complete the personal information and tax profile sections of TurboTax, including:

• At What happened to you in 202X, if applicable, select Yes for:
  • 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
  • Have you made contributions to investments in Labour Sponsored Venture Capital Corporation Shares (LSVCC)?
  • Relevé 10 - Tax Credit with Respect to a Labour-Sponsored Fund.

1. After completing the personal and tax profiles, 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.
2. At Entering your federal T-slips and relevé slips, ensure the Relevé 10 box is checked and select Continue.
3. Proceed through entering income information until you arrive at Relevé 10 - Labour sponsored fund tax credit. 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.
4. At Relevé 10 - Summary, select Done With Relevé 10.
5. If you have a T5006 slip, select the Find icon from the icon menu, enter LSVCC, select LSVCC Credit, and select Go.
6. At LSVCC - Provincial/Territorial, enter the required information from your T5006 slip(s), then select Continue.
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:
8. Select the Find icon from the icon menu, enter RRSP, select RRSP limit for 202X, and select Go.
9. At What's your RRSP/PRPP deduction limit, enter your RRSP deduction limit, then select Continue.
10. At RRSP Contribution enter the details of your RRSP contribution receipt. Select Enter New RRSP and enter your next slip or if you're done, select Done With RRSPs.
11. At RRSP Contribution Summary, you can see your RRSP contribution and make any changes as needed, or select Done With RRSPs.

To optimize your results, complete the personal information and tax profile sections of TurboTax, including:

• At What happened to you in 202X, if applicable, select Yes for:
  • 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
  • Have you made contributions to investments in Labour Sponsored Venture Capital Corporation Shares (LSVCC)?

1. After completing the personal and income profiles, select the Find icon from the icon menu, enter lsvcc, and select LSVCC Credit, and select Go.
2. At LSVCC - Provincial/Territorial, enter the cost of your LSVCC shares, and government assistance if any, and select Continue.
3. At LSVCC Saskatchewan, enter the investment amount as being for a LSVCC registered either provincially or federally.
4. You're done, unless you contributed your LSVCC funds to your RRSP and you are going to claim an RRSP deduction, in which case:
5. Select the Find icon from the icon menu, enter RRSP, select RRSP limit for 202X, and select Go.
6. At What's your RRSP/PRPP deduction limit, enter your RRSP deduction limit, then select Continue.
7. At RRSP Contribution enter the details of your RRSP contribution receipt. Select Enter New RRSP and enter your next slip or if you're done, select Done With RRSPs.
8. At RRSP Contribution Summary, you can see your RRSP contribution and make any changes as needed, or select Done with RRSPs.