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New Member
posted Oct 29, 2019 9:23:33 PM

I adjust my taxable benifit box 40 and nothing changes??

I have entered differnt numbers in the box from $1 to $55000 and the return amount stays the same.This is taxable benifit for my company vehicle and extended health. I have entered differnt numbers in the box from $1 to $55000 and the return amount stays the same

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1 Best answer
New Member
Oct 29, 2019 9:23:34 PM

Box 40 on a T4 is already included in box 14.  Box 40 is for information purpose...and the amount in box 40 does not go anywhere on the tax return, and therefore will not affect the tax return.  The amount in box 14 does go to line 101 on the T1.

1 Replies
New Member
Oct 29, 2019 9:23:34 PM

Box 40 on a T4 is already included in box 14.  Box 40 is for information purpose...and the amount in box 40 does not go anywhere on the tax return, and therefore will not affect the tax return.  The amount in box 14 does go to line 101 on the T1.