You need to fill out "Statement of qualifying retroactive lump-sum payment (T1198)." Enter the amounts from your T1198 into the corresponding boxes. If you have more than one T1198, add the amounts together and enter the total for each box. Unfortunately, when you are reporting a Qualifying Lump-Sum Payment you must submit your taxes in paper form, not electronically.
If you are using the TurboTax Desktop version, the T1198 form is still a locked form by CRA & RQ and not finalized yet. Please refer to this link Why does TurboTax say my forms are locked or haven't been finalized?
We do not have any ETA on this yet,, but as soon as these forms get finalized, we will be updating them in TurboTax for accurate calculations.
We appreciate your patience.
Thank you for choosing TurboTax.
