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Level 2
posted Apr 5, 2021 11:44:28 PM

I received a T4A with $7612.90 listed on line 28. I was told this wasn't taxable. How do i list it on the tax return to get the deduction?

This was from an Estate Account from a Deceased family member.  I was told it wasn't taxable

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1 Replies
Level 6
Jan 10, 2022 10:35:57 AM

We appreciate you choosing TurboTax,

 

Please note that  the T4A with a Box 28 amount will be classified as other income.

 

In Box 28, you can specify CPP/QPP, EI, and PPIP exemptions, and selecting an option here indicates that employment income is exempt from these withholdings.

 

If it appears on the original T4A, it can't be modified to get a deduction or a higher refund.

 

When you select one of the options in Box 28 and your earnings aren't exempt from that withholding, you'll have to pay back to the Canada Revenue Agency (CRA) any additional tax refund you received as a result of making this selection.

 

Please visit the link provided for further clarifications:

CRA: Other information for the T4A slip

CRA: T4A slip: Statement of Pension, Retirement, Annuity, and Other Income

 

Please contact our phone support team or contact us directly on Facebook or Twitter if you require further assistance.