Quebec labour sponsored tax credit not shown on line 424 of TP-1?

[jyc_imp0t]

I entered the Relevé 10 slips for the Quebec labour sponsored funds.The tax credit is appearing on the federal return but not on the TP-1 at line 424? Could you explain why?

Thank you

[TurboTaxLise]

Revised answer with resolution (2/20/2019) For this amount to populate to line 424 of TP1, you must ensure that your entries to your T4 box 14 and RL 1 box A, are entered firstly.  Then go apply your RL10.  All amounts with calculate accordingly.

[TurboTaxLise]

@jyc_imp0t - See revised answer with resolution.  Thank you!

[canadaedm09]

I am a Quebec resident.  I have been using Turbo tax for several years.  In the taxation year 2021 I purchased  Quebec Labor-sponsored fund and both Turbo tax 2021 and 2022 has not been programmed to enter the 15 % tax credits  on line 41400 of the Federal return and line 424 on the Quebec return.

I did enter my T4 and  RL  1 slips as well as the amounts and tax credit from RL 10 slip. I also completed the labor sponsored  Venture Capital Corporation worksheet in addition to tax credit  to a labor-sponsored fund (Quebec)  Unfortunately, I  am yet to resolved this problem.  For 2021 I had spoken to a few of Turbo tax support people concerning this problem, but no one was able to solve this problem.  

Should anyone be able to solve this problem I would greatly appreciate.  

Last year 2021 I had to complete my taxes for both Quebec and Federal.  With Studio tax there was not not a problem with the tax credits for labor-sponsored fund.  I hope I would not have to go this route again.  

Or probably the standard edition does not calculate this credit, yet I doubt it. Thanks Patrick

[canadaedm09]

The reply concerning labor-sponsor fund CRA line 41400 and line 424 on Quebec Income tax is  when  you first enter employment income  box 14 from T4  then  box A from RL1 then information from RL 10 is simply wrong.  Turbo tax simply is unable to preform this task because the program is not programmed to handle handle this as I have had this problem with Turbo tax 2021 and again for 2022. As far as I am concerned this problem is yet to be resolved.

[TurboTaxSusan]

@canadaedm09

Please contact our phone support team at 1-888-829-8608 for assistance with this issue. They can look at the return with you and see what’s wrong.

[Poolie]

This problem is still ongoing and has not been solved. Since at least 50% of Quebecers have Labour Sponsored Funds (FTQ or CSN)  do not make the same mistake I made and do not buy Turbo Tax 2022 as it will not allow you to deduct the $750 tax credit (X 2 since applies to both provincial and federal returns). I am not stuck having to send paper copies to CRA like this was 1970 due to glaring error in the Turbo TAx software that has been mentioned over here since at least 2019 and for which they did nothing top solve it. It is NOT due to errors on my part entering data as I have been been doing dozens of those for decades and I can see exactly where the Turbo Tax software is deficient and will cause you to lose $1,500 total on your tax return!!!

[TurboTaxBrenda1]

Can you please advise if you were able to successfully file your return after the update? 

Thank you for choosing TurboTax.