I was on short term and then long term for part of 2024. What do I do to "enter contributions you made to the plan that you have not previously deducted"? I entered T4As.
I was on short term and then long term for part of 2024. What do I do to "enter contributions you made to the plan that you have not previously deducted"? I entered T4As.
I entered T4A info into Turbotx, but I am getting this message when I review my return:
You are reporting wage loss replacement plan income from box 107 of your T4A slip. Be sure to enter contributions you made to the plan that you have not previously deducted. This will reduce the amount of income you have to report.
I don't know what I need to do or report?
I was on short term and then long term for part of 2024. What do I do to "enter contributions you made to the plan that you have not previously deducted"? I entered T4As.
Do you have a box 107 on your T4A? Is it a Warning or an Error?
For this specific question and to know if, with your situation, you have something to report, we suggest you to contact CRA.
As per CRA, amounts that you receive for loss of income from employment that are payable under a sickness, accident, disability or income maintenance insurance plan (also known as a wage-loss replacement plan (WLRP)) must be reported as income on your return.
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