Hi
Since there was an update, I thought I would try again. First I tried fake whole numbers. The form went through.
When I put my numbers in with the 2 decimals of change, it would not go through. If I take out the change and reduce my total amount accordingly it goes through. You need to set it up so that it takes decimals. Or are we supposed to round to the nearest dollar? I checked with Google and that is what it says to do. It would be great if those instructions were in your software on the form.
You have to round to the nearest dollar. It does not take the change. Mine finally went through.
Hi,
are you talking about T1198 form - how you go around Year of payment - you leave it blank?
Went through means you filed your return to CRA?
Yes I am referring to the T1198. I finally got Turbotax to verify it by only putting whole amounts, no pennies.
I retired so I have no entries for 2024 or 2023. So I cannot help you there.
I am not ready to file the return yet. But it should be fine to go to CRA.
Thank you. That worked. And you are right, Im now stuck on "Year of payment" field - only 0 to 2023. :(
@TurboTaxAniqua - Please help.
I have the onlione version which is supposed to automatically update.
When I enter the info in the T1198 I still get the message that the breakdown does not equal the total. It does work if I back out the 2024 amount (inlcuded in T4 anyway) and just put in the total for 2019 to 2023. Is that ok to dio
Hi
My opinion: It needs to take the 2024 amount. So wait until Turbo Tax fixes it.
Turbo Tax is allowing us to submit the form which the CRA will then use to determine whether spreading the lump sum across all years or taxing the full payment in 2024 is better for you. The CRA only applies the T1198 if it is beneficial to the tax payer. If you were retired, on Mat Leave or a Leave of Absence in 2024, it may be better to use a lump sum tax.
@KO56 T1198 form should be working fine as it was fixed in the last update that was released on Sunday.
I have a T1198, what is the minimum edition of turbo tax required to claim a QRLSP?
Not the online version as stated by others as well. I just tried it again and if I include the 2024 amount IT STILL GIVES THE ERROR
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