If one of my receipts was say, $1000, and my work covered $200, would I just change the receipt to $800 instead of $1000? Or is there a separate location I need to enter the $200 reimbursement?
The amount on the T4, if any, is just the medical premiums included as a taxable benefit. As to what you pay out of pocket, that is what you record as an expense. In your scenario, the cost is $1000, you are reimbursed $200, then yes, you record $800.
Good afternoon,
Usually your employer will include these amounts on your T4.
Have you discussed this with your employer?
Thank you,
Leeanne@TurboTax
that is not a correct response ! you are confusing benefit claim with benefit premium
The amount on the T4, if any, is just the medical premiums included as a taxable benefit. As to what you pay out of pocket, that is what you record as an expense. In your scenario, the cost is $1000, you are reimbursed $200, then yes, you record $800.
turbo tax is confusing their client: In previous years ,I seem to recall , we listed the each claim amount and also listed the benefit reimbursement amount . This year you changed; leaving the client searching how to declare the reimbursement amount .
I didn't find it confusing at all. Perhaps it's just you that is confused.
IS confused no longer. But WAS confused - YES -until I figured out the Turbotax change from previous years. Thanks for paying attention.