Good Day. I've received a T4A-RCA slip with amounts recorder in boxes # 18 and # 22 only. Where can I record these amounts in the free version of Turbotax? Thanks!

[mnekhoda]

Hello. Where in Turbotax do I enter the amounts noted under T4A-RCA boxes # 18 and # 22? Please see attached image for clarification. Many thanks!

[TurbotaxRobert]

Box 18 – This is the amount you received for selling an interest in the RCA. You have to include this amount on line 130 of your income tax and benefit return. 

If you made non-deductible contributions to this RCA, or you had already bought an interest in this RCA, you can claim a deduction on line 232 of your income tax and benefit return equal to either A or B, whichever is less. A = the amount in box 18 B = (C minus D) C = the total purchase price you paid while a resident of Canada to acquire the interest in the RCA, the non-deductible contributions you made to this RCA before the end of the year of disposition and amounts transferred from another RCA D = the total amounts transferred to another RCA and amounts you already deducted for any amounts received for this RCA (do not include a deduction claimed for amounts received out of the RCA as a retiring allowance).

Note: If your employer contributed to this RCA, you may transfer the eligible portion of the amount you receive as a retiring allowance from this RCA to your RPP, your RRSP, or an individual account under a SPP or PRPP under which you are the annuitant or member. Claim a deduction for the amount you transfer to your RPP on line 207 of your income tax and benefit return. Claim a deduction for the amount you transfer to your RRSP or your individual account under a SPP or PRPP on line 208 of your income and benefit return.

Box 22 – Enter this amount on line 437 of your income tax and benefit return.