Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 7, 2024 6:09:10 AM

I paid an amount prior to the deadline. Am I still able to eFile or must I report with form 1198?

0 1 1024
1 Replies
Moderator
May 8, 2024 10:29:36 AM

Form T1198 – Statement of Qualifying Retroactive Lump-Sum Payment is a form you submit to the Canada Revenue Agency (CRA) if you received a lump-sum payment and would like them to complete a special tax calculation that takes into account the unusual nature of this lump-sum payment.

 

For more information please follow our TurboTax Article T1198 Form – Statement of Qualifying Retroactive Lump-Sum Payment

Switch from Easy steps to forms in Turbo Tax.  then select the form "NETFILE" form and you will choose one of the boxes saying I want to use a T1198.

 

In the NetFile Worksheet, under the bold heading, "Do any of the above situations apply", you will find a "Are you reporting a qualifying retroactive lump-sum payment on Form T1198". You will find the box checked yes or no depending on if you need it. Go back to the easy steps and submit your tax return.via Netfile.

 

 

Thank you for choosing TurboTax.