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Where do I report a T1198 form, QRLS and it is more than 3000$? I have the form from my employer, however is there something else I am waiting for or need to do?
March 5, 2025
9:21 AM
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Troubleshooting
Go with Wealth Simple. They have the T1198 online with their tax service. Turbo Tax will also force you to go Deluxe probably to do this as well. Turbo Tax keeps giving the same generic answer blaming CRA, however other platforms have already implemented it.
March 6, 2025
4:58 AM
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Troubleshooting
The Statement of qualifying retroactive lump-sum payment (T1198) is now available and unlocked in TurboTax Online.
It is available in TurboTax Desktop in Forms mode, but it's still locked. You can see a list of forms that are still in development here: https://turbotax.community.intuit.ca/turbotax-support/en-ca/help-article/tax-return/turbotax-say-for...
March 6, 2025
4:57 PM