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Investors and rental owners
Once you input your CRB information from your T4A slip, TurboTax will automatically calculate if you need to make a repayment.
If your employment or self-employment income in the calendar year is $38,000 or more, you will have to reimburse $0.50 of the CRB for every dollar of the net income you earn above the $38,000.
For example:
- If your net income is $40,000 and you are receiving CRB, you are $2,000 above the threshold: $40,000 – $38,000 = $2,000
- In this case, you will have to pay $1,000 back to CRB.
The net income for the purpose of calculating the reimbursement does not include the payments from CRB. But includes payments from other emergency response benefits such as CERB, CRSB, and CRCB.
For more information please refer to the following TurboTax article:
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April 5, 2022
2:02 PM