Where do I input my Deferred Profit Sharing Plan amount?

For employees, the amounts withdrawn from the Deferred Profit Sharing Plan (DPSP) are included in income for tax purposes just like employment income. If you received the lump-sum payment from DPSP in cash or by cheque, report the payment on line 13000 of your income tax and benefit return in the year the payment is received.

 

For more detailed information on Deferred Profit Sharing Plans, please follow this link from Canada Revenue Agency (CRA) Deferred profit sharing plan (DPSP) lump-sum payments 

and this TurboTax article Tax Tip: Lump-sum payments from deferred profit sharing plans 

 

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