- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I repaid Canada Life for an overpayment disability
I have the letter from Canada life as follows:
"In 2023 you repaid Canada life for an overpayment of disability benefits. The amount you repaid is greater than amount of benefits issued by Canada Life during 2023. This means that you can claim a reduction of $12,826.68 in your taxable income and pay less income tax.
The amount $xxxx should be entered on line 22900( Employment Expenses) in the Repayment of Wages" section of your 2023 Income tax form This letter should be included with your tax return."
Question is which box on intuit turbo tax Canada I should use to put this information and claim it to pay less taxes.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Credits and deductions
I received T4A slip and there is only one box 022 filled ($ 59.42) all other boxes are empty and a letter in the same envelope stating what I mentioned above to enter the amount of $12,826.68 on line 22900
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Credits and deductions
To enter your overpayment of disability benefits into line 22900 (Employment Expenses) in TurboTax Online, you would need to enter it as an Employment Expense.
- Search for Employment Expenses on the Tax Home page (select “2024 tax return” on the top of the left side menu).
- On the "Employment Expenses" page, answer Yes.
- On the "NAME: Employment Expenses Profile" page, say that you have a T2200, even though you don't have one. Click Continue.
- On the "Employment Expense Profile", check off "Other Employment Expenses" and say NO to "Are you eligible to claim the GST/HST rebate?". Click Continue.
- On the "Other Employment Expenses" page, enter your overpayment of disability benefits amount into the "Other expenses" box, in the "Zero rated & exempt" column. Click Continue to save your changes.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content