topic Re: Qualifying Retroactive Lump-Sum Payment in Getting started

Qualifying Retroactive Lump-Sum Payment

KR111 — Sat, 19 Apr 2025 16:52:18 GMT

For the 2024 tax year, I have received a Qualifying Retroactive Lump Sum Payment letter for myself and a T1198 form for my wife. CRA says that as of 2024, these forms can be submitted electronically. In Turbotax, I used the easy step method, but found no place where I am asked if I have to enter these forms.

How do I enter and submit the T1198 form or letter electronically using Turbotax2024?

Re: Qualifying Retroactive Lump-Sum Payment

TurboTaxAniqua — Thu, 24 Apr 2025 15:05:21 GMT

Did you receive an information slip from the payee that details the lump-sum. That slip might be a T4, T4A, or T4E. If the lump sum was given by your employer, along with the slip you should receive written information about the year the payment was made, why it was made, the total amount received plus interest (if any), and which amount of the payment relates to each year?

Re: Qualifying Retroactive Lump-Sum Payment

HelenaGK — Wed, 30 Apr 2025 04:00:35 GMT

You can go to FIND and put in T1198 and it will take you to the correct place to check off and then enter the information.