In most cases, an RL-27 slip is issued for information purposes only. You do not have to enter it on your tax return. However, there are some exceptions:
If you hold a taxi owner's permit and have received an RL-27 slip indicating the allowance paid to compensate for the loss of value of your licence, you must enter the information found on your RL-27 slip in the Self-employment section to reduce the capital cost of the permit and the undepreciated capital cost (UCC) of the amortization category to which the permit belongs.
If you received a payment related to self-employment, you must reduce the amount of the corresponding expense or reduce the capital cost of the financed property, or report it as other income in the Self-employment section of TurboTax.
To switch to the Self-Employment section of TurboTax Online:
- Click on Find (magnifying glass) in the top right-hand corner.
- Type "self" in the box, then select "self-employment" from the list, and click “Go”.
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