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Level 1
posted May 17, 2020 2:56:31 PM

Line 23200 - how to enter legal fees paid to collect a retiring allowance or pension benefit.

Hi,

CRA allows for deduction of legal "fees you paid to collect (or establish a right to) a retiring allowance or pension benefit " as per link below

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/[product key removed]-deductions/[product key removed]-fees.html

 

"Step-by-Step" method does not seem to enable one to enter the relevant legal fees. The forms associated with the schedule for line 23200 (see the included picture) does not have a relevant detail related to "fees you paid to collect (or establish a right to) a retiring allowance or pension benefit. "

 

 

What is the best way to enter "legal fees paid to collect a retiring allowance or pension benefit" in TurboTax?

 

 

 

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1 Best answer
Level 15
May 17, 2020 6:34:12 PM

As there is no specific line for legal fees paid to collect a retiring allowance or pension, you need to enter this in as an Other Deduction and specify what the fees are for. 

 

While in the EasyStep view of TurboTax installed on your computer, you can access this spot from the sidebar of TurboTax > Deductions & Credits > Other Deductions > check off Other Deductions (Legal Costs, etc) > and continue until you reach the page titled Other Deductions and make your entry as shown in the screenshot.

 

 

 

4 Replies
Level 15
May 17, 2020 6:34:12 PM

As there is no specific line for legal fees paid to collect a retiring allowance or pension, you need to enter this in as an Other Deduction and specify what the fees are for. 

 

While in the EasyStep view of TurboTax installed on your computer, you can access this spot from the sidebar of TurboTax > Deductions & Credits > Other Deductions > check off Other Deductions (Legal Costs, etc) > and continue until you reach the page titled Other Deductions and make your entry as shown in the screenshot.

 

 

 

Level 1
May 18, 2020 11:50:51 AM

Thank you Kim for detail instructions.

New Member
May 24, 2020 1:32:37 PM

I am using the online standard version, but when I selected "Other Deduction" under the find tool, there is no place to enter the amount other than clicking on the "back" or "continue" bottom.

 

New Member
Jul 29, 2022 8:33:42 AM

no.  i need the complete detail as to the make up of the total deductions for my souse on our 2021 taxes please