martino-one
Level 1

how do I enter security option deduction at Turbotax as I sold CCPC shares that I exercised option earlier and don't get T4. I only report taxable gain when I sell shares

I exercised canadian controlled private company options and held shares in 2023. In 2024, I sold shares, so I need to report taxable gain. in the turboxtax, I report line10400 for other employment income, but I can't find security option deduction I can enter at TurboTax as this line is only available at T4, which company didn't provide as I held shares from exercising options. Basically, I would like to claim 50% for security option deduction, but don't know where I can enter at TurboTax. I tried at other deduction page, but there is no security option deduction there.
‎April 2, 2025 8:10 PM
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TurboTaxSusan
Moderator
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Getting started

To get the Security Options Deduction on Line 24900, you need to fill out form T1212 Statement of Deferred Security Options Benefits. To enter a T1212 in TurboTax Online, go to your return’s home page (click the house icon ⌂ in the top left menu) and then search for “Other Deductions”. 

 

To report the sale of CCPC shares when you don’t have a T-slip, search for “Capital gains and Capital Gains Deduction”.

 

‎April 3, 2025 5:20 PM
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martino-one
Level 1

Getting started

This helps. Once I filled out T1212 Statement of Deferred Security Options Benefits, it added to my employment income line 10100, and also 24900 and 24901 were updated.

‎April 3, 2025 7:13 PM
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