If you are in TurboTax CD/Download EasyStep Mode, use the Find tool to search for LSVCC, select it from the list and click Go. There is a page for entering the cost of your LSVCC shares, and when you click continue, there is a page to enter info from your T2C.
In TurboTax CD/Download Forms Mode, click the Forms icon and search for LSVCC. Select it from the list and click OK. You’ll get the LSVCC worksheet with sections similar to what you see in EasyStep Mode.
In TurboTax Online, click on Provincial Tax Credits under Provincial in the left side menu. Put a check mark next to “Labour sponsored venture capital tax credit” and click Continue On the 1st LSVCC – Saskatchewan page, you get the option to put unused credits from 2017, as well as a button to enter a T5006. The T5006 slip has boxes for the T2C at the bottom.
This doesn’t answer my question. Turbotax online has a place for the T2C which asks for consideration paid. This doesn’t correspond to any number on my T2C. It specifies box numbers and mg T2C has no box numbers.
The question has not been answered. TurboTax has a box for 'Consideration Paid' and the T2C says 'Investment Amount'. Do we enter the $5,000 investment we made into the Consideration Paid box??
I am looking for this answer as well. Any guidance or help would me much appreciated.
Hello, did you ever figure out the answer to this question? I’ve got the exact same issue.
thanks!
I’m having the same problem ! Has anyone found a solution?!?
This helps but doesn’t answer the question. We do no have a consideration paid amount on our T2C slip. So what $ amount do we enter???
Please go to the "Provincial" section and check off "Labour-sponsored funds tax credit" then continue and you will see where to enter your T2C.
This is only asking for the unused credit for 2018 and that information isn’t on the form anywhere. The only numbers on the form are amount invested and then provincial and federal limits. Does the ‘unused credit for 2018’ field refer to something else on the actual forms?
when you submit any number in that field it still doesn’t let you input your amount invested.
Open a T5006 slip. You will be able to find all the Box numbers in this slip including the consideration amount.
From the search engine on the top bar --> search for T5006 Registered Labour Sponsored Venture Capital Corporation Shares. Attached a screenshot of the slip in TTO.
I hope this was helpful
Footnote:
We at TurboTax want to encourage you and your close family to take all necessary precautions to ensure your safety. Please review the articles provided below for more information during these difficult times:
What to know about COVID-19 and Your Taxes.
https://turbotax.intuit.ca/tips/what-to-know-about-covid-19-and-your-taxes-11110
Canada’s COVID-19 Economic Response Plan
https://www.canada.ca/en/department-finance/economic-response-plan.html
COVID-19: Tax Info Centre
Canada Emergency Response Benefit (CERB)
https://turbotax.intuit.ca/tips/canada-emergency-response-benefit-cerb-11165
Hello,
I am still not understanding as the T2C form doesn’t have box numbers, nothing on this form is corresponding to what you are saying to enter.
thank you.
Did you figure this out? I’ve entered the amount purchased ($5000) in the consideration box, which seems to grant the provincial tax credit, but I can’t see where the federal tax credit can be applied.