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New Member
posted Apr 25, 2024 5:33:23 AM

I received a T4E for 2k which was due to a reversal of payment from Covid benefits in 2020. How do I adjust the T4E so I am not taxed twice?

I already paid taxes on this amount in 2020 and did not receive the $2000 during 2023.

0 5 5270
5 Replies
Moderator
Apr 25, 2024 5:59:24 AM

Which box on the T4E did they enter the amount on?

New Member
Apr 25, 2024 6:11:52 AM

Total Benefits paid Line 14 - $2,000

Overpayment recovered/repaid Line 26 - $2,000

Total repayment Line 30 - $2,000

 

It's included in my income but I did not receive $2,000 last year. The repayment was reversed and finalized during 2023. 

Moderator
Apr 25, 2024 6:58:39 AM

Box 26 and 30 show that it was an overpayment which was paid. You should not pay taxes on it again as it is showing as a paid amount.

New Member
Apr 25, 2024 7:03:10 AM

Yes, but on the summary page it is listed as income. If I deduct the T4E, I get a higher return which implies I'm paying taxes on it. 

Moderator
Apr 27, 2024 7:47:38 AM

Please verify under line 23200 in your detailed tax summary- you should see the $2000 there. 

 

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