topic Please take note: FTQ entries should be applied after the... in Seniors and students https://turbotax.community.intuit.ca/community/seniors-students/discussion/please-take-note-ftq-entries-should-be-applied-after-the/01/932998#M6875 <P><U>Please take note</U>: FTQ entries should be applied<B> after</B> the Federal Tslip entries.</P><UL> <LI>In the <I>Provincial</I> Section of your tax return drop down to <I>Other Quebec Credits </I>then&nbsp;<I>Québec Credits Profile</I> – CHECK - <I>Tax credit for </I><I>Labour sponsored</I><I> venture capital (FTQ or CSN) -</I> &nbsp;opens <I>LSVCC – Québec </I>– enter amount in <I>&nbsp;Unused contributions for class A shares in the Fonds de solidarité des </I><I>travailleurs</I><I> du Québec (FTQ) from previous years</I> </LI> </UL><UL> <LI>For the FTQ to populate to line 424 of TP1(Quebec Tax Summary),&nbsp;you must ensure that your entries to your T4 box 14 and RL 1 box A, are entered first.&nbsp;</LI> </UL><UL> <LI>Then go apply your RL10. Making sure you are indicating in that slip that it is for <B>FTQ</B>. All amounts with calculate accordingly.</LI> </UL><P>For a better understanding of this credit review links below.</P><P><B>From TurboTax Tips</B> -<A rel="nofollow" href="https://turbotax.intuit.ca/tips/the-labour-sponsored-funds-tax-credit-5494" target="_blank">https://turbotax.intuit.ca/tips/the-labour-sponsored-funds-tax-credit-5494</A></P><P> </P><P><B>And &nbsp;from Revenu Québec</B>: 424&nbsp;– TAX CREDIT FOR A LABOUR-SPONSORED FUND - <A rel="nofollow" href="https://bit.ly/2HhW8aK" target="_blank">https://bit.ly/2HhW8aK</A></P> Thu, 31 Oct 2019 04:13:11 GMT TurboTaxLise 2019-10-31T04:13:11Z How do i reflect FTQ labor fund RRSP carryover from 1st 60 days 2018 (additional tax advantage)? Time frame choice is Mar 1-Dec '18, or 1st 60 days of 2019 only? https://turbotax.community.intuit.ca/community/seniors-students/discussion/how-do-i-reflect-ftq-labor-fund-rrsp-carryover-from-1st-60-days-2018-additional-tax-advantage-time/01/932997#M6874 <P>I contributed RRSP in 1st 60 days of 2018, and reflected this on schedule 7 of my 2017 return as a carryover, and want to deduct in 2018 tax year.&nbsp; However the drop down menus only indicated Mar 1 - Dec 31, 2018, or the 1st 60 days of 2019.&nbsp; There appears to be no place to indicate the 1st 60 days of 2018.&nbsp; With the labor fund (FTQ), there are additional tax credits, above and beyond a regular RRSP, and those do not seem to be reflected.&nbsp;</P> Thu, 31 Oct 2019 04:13:09 GMT https://turbotax.community.intuit.ca/community/seniors-students/discussion/how-do-i-reflect-ftq-labor-fund-rrsp-carryover-from-1st-60-days-2018-additional-tax-advantage-time/01/932997#M6874 larryg64 2019-10-31T04:13:09Z Please take note: FTQ entries should be applied after the... https://turbotax.community.intuit.ca/community/seniors-students/discussion/please-take-note-ftq-entries-should-be-applied-after-the/01/932998#M6875 <P><U>Please take note</U>: FTQ entries should be applied<B> after</B> the Federal Tslip entries.</P><UL> <LI>In the <I>Provincial</I> Section of your tax return drop down to <I>Other Quebec Credits </I>then&nbsp;<I>Québec Credits Profile</I> – CHECK - <I>Tax credit for </I><I>Labour sponsored</I><I> venture capital (FTQ or CSN) -</I> &nbsp;opens <I>LSVCC – Québec </I>– enter amount in <I>&nbsp;Unused contributions for class A shares in the Fonds de solidarité des </I><I>travailleurs</I><I> du Québec (FTQ) from previous years</I> </LI> </UL><UL> <LI>For the FTQ to populate to line 424 of TP1(Quebec Tax Summary),&nbsp;you must ensure that your entries to your T4 box 14 and RL 1 box A, are entered first.&nbsp;</LI> </UL><UL> <LI>Then go apply your RL10. Making sure you are indicating in that slip that it is for <B>FTQ</B>. All amounts with calculate accordingly.</LI> </UL><P>For a better understanding of this credit review links below.</P><P><B>From TurboTax Tips</B> -<A rel="nofollow" href="https://turbotax.intuit.ca/tips/the-labour-sponsored-funds-tax-credit-5494" target="_blank">https://turbotax.intuit.ca/tips/the-labour-sponsored-funds-tax-credit-5494</A></P><P> </P><P><B>And &nbsp;from Revenu Québec</B>: 424&nbsp;– TAX CREDIT FOR A LABOUR-SPONSORED FUND - <A rel="nofollow" href="https://bit.ly/2HhW8aK" target="_blank">https://bit.ly/2HhW8aK</A></P> Thu, 31 Oct 2019 04:13:11 GMT https://turbotax.community.intuit.ca/community/seniors-students/discussion/please-take-note-ftq-entries-should-be-applied-after-the/01/932998#M6875 TurboTaxLise 2019-10-31T04:13:11Z Thanks, but this does not work.  As noted, the only time... https://turbotax.community.intuit.ca/community/seniors-students/discussion/thanks-but-this-does-not-work-as-noted-the-only-time/01/932999#M6876 Thanks, but this does not work.&nbsp;&nbsp;As noted, the only time period option for RL10, are after the 1st 60 days of the previous year, or first 60 days of current year.&nbsp;&nbsp;There is no drop down timing option that allows for input for the 1st 60 days.&nbsp;&nbsp;That was essentially my question.&nbsp;&nbsp;If I input that the FTQ amount was for the period after the 1st 60 days, then it will show up on schedule 7 as an additional contribution, when it is not, it is a previously reported contribution, yet not deducted.&nbsp;&nbsp;It appears that TurboTax is not equipped to handle such a unique situation. Thu, 31 Oct 2019 04:13:12 GMT https://turbotax.community.intuit.ca/community/seniors-students/discussion/thanks-but-this-does-not-work-as-noted-the-only-time/01/932999#M6876 larryg64 2019-10-31T04:13:12Z
This XML file does not appear to have any style information associated with it. The document tree is shown below.
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topic Please take note: FTQ entries should be applied after the... in Seniors and students
</title>
<link>
https://turbotax.community.intuit.ca/community/seniors-students/discussion/please-take-note-ftq-entries-should-be-applied-after-the/01/932998#M6875
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<P><U>Please take note</U>: FTQ entries should be applied<B> after</B> the Federal Tslip entries.</P><UL> <LI>In the <I>Provincial</I> Section of your tax return drop down to <I>Other Quebec Credits </I>then&nbsp;<I>Québec Credits Profile</I> – CHECK - <I>Tax credit for </I><I>Labour sponsored</I><I> venture capital (FTQ or CSN) -</I> &nbsp;opens <I>LSVCC – Québec </I>– enter amount in <I>&nbsp;Unused contributions for class A shares in the Fonds de solidarité des </I><I>travailleurs</I><I> du Québec (FTQ) from previous years</I> </LI> </UL><UL> <LI>For the FTQ to populate to line 424 of TP1(Quebec Tax Summary),&nbsp;you must ensure that your entries to your T4 box 14 and RL 1 box A, are entered first.&nbsp;</LI> </UL><UL> <LI>Then go apply your RL10. Making sure you are indicating in that slip that it is for <B>FTQ</B>. All amounts with calculate accordingly.</LI> </UL><P>For a better understanding of this credit review links below.</P><P><B>From TurboTax Tips</B> -<A rel="nofollow" href="https://turbotax.intuit.ca/tips/the-labour-sponsored-funds-tax-credit-5494" target="_blank">https://turbotax.intuit.ca/tips/the-labour-sponsored-funds-tax-credit-5494</A></P><P> </P><P><B>And &nbsp;from Revenu Québec</B>: 424&nbsp;– TAX CREDIT FOR A LABOUR-SPONSORED FUND - <A rel="nofollow" href="https://bit.ly/2HhW8aK" target="_blank">https://bit.ly/2HhW8aK</A></P>
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<pubDate>Thu, 31 Oct 2019 04:13:11 GMT</pubDate>
<dc:creator>TurboTaxLise</dc:creator>
<dc:date>2019-10-31T04:13:11Z</dc:date>
<item>
<title>
How do i reflect FTQ labor fund RRSP carryover from 1st 60 days 2018 (additional tax advantage)? Time frame choice is Mar 1-Dec '18, or 1st 60 days of 2019 only?
</title>
<link>
https://turbotax.community.intuit.ca/community/seniors-students/discussion/how-do-i-reflect-ftq-labor-fund-rrsp-carryover-from-1st-60-days-2018-additional-tax-advantage-time/01/932997#M6874
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<P>I contributed RRSP in 1st 60 days of 2018, and reflected this on schedule 7 of my 2017 return as a carryover, and want to deduct in 2018 tax year.&nbsp; However the drop down menus only indicated Mar 1 - Dec 31, 2018, or the 1st 60 days of 2019.&nbsp; There appears to be no place to indicate the 1st 60 days of 2018.&nbsp; With the labor fund (FTQ), there are additional tax credits, above and beyond a regular RRSP, and those do not seem to be reflected.&nbsp;</P>
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<pubDate>Thu, 31 Oct 2019 04:13:09 GMT</pubDate>
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https://turbotax.community.intuit.ca/community/seniors-students/discussion/how-do-i-reflect-ftq-labor-fund-rrsp-carryover-from-1st-60-days-2018-additional-tax-advantage-time/01/932997#M6874
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<dc:creator>larryg64</dc:creator>
<dc:date>2019-10-31T04:13:09Z</dc:date>
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<title>
Please take note: FTQ entries should be applied after the...
</title>
<link>
https://turbotax.community.intuit.ca/community/seniors-students/discussion/please-take-note-ftq-entries-should-be-applied-after-the/01/932998#M6875
</link>
<description>
<P><U>Please take note</U>: FTQ entries should be applied<B> after</B> the Federal Tslip entries.</P><UL> <LI>In the <I>Provincial</I> Section of your tax return drop down to <I>Other Quebec Credits </I>then&nbsp;<I>Québec Credits Profile</I> – CHECK - <I>Tax credit for </I><I>Labour sponsored</I><I> venture capital (FTQ or CSN) -</I> &nbsp;opens <I>LSVCC – Québec </I>– enter amount in <I>&nbsp;Unused contributions for class A shares in the Fonds de solidarité des </I><I>travailleurs</I><I> du Québec (FTQ) from previous years</I> </LI> </UL><UL> <LI>For the FTQ to populate to line 424 of TP1(Quebec Tax Summary),&nbsp;you must ensure that your entries to your T4 box 14 and RL 1 box A, are entered first.&nbsp;</LI> </UL><UL> <LI>Then go apply your RL10. Making sure you are indicating in that slip that it is for <B>FTQ</B>. All amounts with calculate accordingly.</LI> </UL><P>For a better understanding of this credit review links below.</P><P><B>From TurboTax Tips</B> -<A rel="nofollow" href="https://turbotax.intuit.ca/tips/the-labour-sponsored-funds-tax-credit-5494" target="_blank">https://turbotax.intuit.ca/tips/the-labour-sponsored-funds-tax-credit-5494</A></P><P> </P><P><B>And &nbsp;from Revenu Québec</B>: 424&nbsp;– TAX CREDIT FOR A LABOUR-SPONSORED FUND - <A rel="nofollow" href="https://bit.ly/2HhW8aK" target="_blank">https://bit.ly/2HhW8aK</A></P>
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<pubDate>Thu, 31 Oct 2019 04:13:11 GMT</pubDate>
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<dc:creator>TurboTaxLise</dc:creator>
<dc:date>2019-10-31T04:13:11Z</dc:date>
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Thanks, but this does not work.  As noted, the only time...
</title>
<link>
https://turbotax.community.intuit.ca/community/seniors-students/discussion/thanks-but-this-does-not-work-as-noted-the-only-time/01/932999#M6876
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Thanks, but this does not work.&nbsp;&nbsp;As noted, the only time period option for RL10, are after the 1st 60 days of the previous year, or first 60 days of current year.&nbsp;&nbsp;There is no drop down timing option that allows for input for the 1st 60 days.&nbsp;&nbsp;That was essentially my question.&nbsp;&nbsp;If I input that the FTQ amount was for the period after the 1st 60 days, then it will show up on schedule 7 as an additional contribution, when it is not, it is a previously reported contribution, yet not deducted.&nbsp;&nbsp;It appears that TurboTax is not equipped to handle such a unique situation.
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<pubDate>Thu, 31 Oct 2019 04:13:12 GMT</pubDate>
<guid>
https://turbotax.community.intuit.ca/community/seniors-students/discussion/thanks-but-this-does-not-work-as-noted-the-only-time/01/932999#M6876
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<dc:creator>larryg64</dc:creator>
<dc:date>2019-10-31T04:13:12Z</dc:date>
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