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Level 2

reporting estimated Canada Child Benefit as an income

Hello,

 

I am filing multiple years of taxes at the same time.  for an example. 2018 and 2019. I have already filed 2018 via NETFILE and now in process of filing 2019. I got an estimated amount of Canada Child Benefit by TurboTax software. My question is, should I report this estimated amount when filing taxes for 2019? if yes than under what section should i report it?

OR

should i report it once i receive it this year. means report it when filing taxes for year 2020 under RC62 form line 12 (repayment of previous year benefits)?

 

thanks

SR

1 Best answer

Accepted Solutions
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Level 6

reporting estimated Canada Child Benefit as an income

Hi, thank you for using Intuit TurboTax Community

The non-taxable Canada Child Benefit (CCB) was introduced in 2016 so would cover part of 2016 and all of 2017. The CCB replaced the taxable Universal Child Care Benefit (UCCB). UCCB was paid until July 2016 and therefore an RC 62 would have been issued for the 2016 tax year and for earlier years. So, for 2016 there may have been received taxable UCCB and non-taxable CCB.

More information can be found at this link

Hope this helps

View solution in original post

3 Replies
Highlighted
Level 6

reporting estimated Canada Child Benefit as an income

Hi, thank you for using TurboTax Community

As seen from this Canada Revenue Agency link, The Canada Child Benefit is not taxable so no slip is issued

Hope this helps

Highlighted
Level 2

reporting estimated Canada Child Benefit as an income

Thanks Duncan,

 

Does this apply for previous years as well. like 2016 and 2017?

Highlighted
Level 6

reporting estimated Canada Child Benefit as an income

Hi, thank you for using Intuit TurboTax Community

The non-taxable Canada Child Benefit (CCB) was introduced in 2016 so would cover part of 2016 and all of 2017. The CCB replaced the taxable Universal Child Care Benefit (UCCB). UCCB was paid until July 2016 and therefore an RC 62 would have been issued for the 2016 tax year and for earlier years. So, for 2016 there may have been received taxable UCCB and non-taxable CCB.

More information can be found at this link

Hope this helps

View solution in original post

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