do you ALSO need to enter the releve10 amount as an RRSP contribution under eligibe RRSP contributions? Or just under the T-slips
Click the Income Tab and select the option for T slips. From the Income Slips screen that populates, check off the option for RL10 near the bottom of the list. As you continue through the Income section, the RL 10 screen will appear.
Thank you for this question! I don't have an answer, only frustration that TurboTax does not make this clear. It's a vary basic question. Do you enter it under RRSP AND the Releve 10, or just in Releve10? The difference is enormous in terms of impact on the taxes. Can someone please answer this? Thank you.
If you have a RL10 then you will need to enter your RL10. If you contributed to an FTQ fund, enter the amount from Box A only, and the program will automatically calculate the credit of Box B. The credit will be claimed on the appropriate lines of both the federal and Quebec tax returns.
Thank you for choosing TurboTax
The question was do you need to do BOTH, enter the Releve 10 AND enter the RRSP amount. The following answer, in question, suggests that indeed, you have to do BOTH:
mars 14, 2022 6:39 AM
Voici les instructions détaillée pour vous assurer que vous avez bien rempli toutes les cases nécessiares depuis le début de la déclaration:
Dans le menu de gauche à la section Mes Renseignements cliquez Mise en route et Continuer
À la 2ème page de ‘Qu’est-ce qui a marqué l’année 2021?’ cochez OUI j’ai versé des cotisations à un REER, etc…? D’autres cases s’ouvrent
Cochez toutes les cases qui s'appliquent ainsi que la case ‘J’ai fait des placements dans une société à capital de risque de travailleurs (SCRT)’ Ensuite cochez la case Relevé 10
Continuer votre déclaration jusqu’à la section Revenus, un feuillet Relevé 10 s’ouvrira à la suite de vos autres feuillets. Entrez les montants
Après avoir entré un Relevé 10, TurboÎmpôt reporte les montants dans un T5006 - Actions d'une société agrée à capital de risque de travailleurs que vous pouvez voir dans le menu de gauche sous Revenus → Feuillets de renseignements
Par la suite, vous devez entrer vos contributions dans 2 REER différents si vous avez contribué en 2021 et en 2022.
Dans le menu de gauche, cliquez la section REER. Cliquez REER - Maximum déductible au titre des REER pour 2021 et entrez vos données. Cliquez Continuer.
Ensuite, entrez Feuillet REER no 1 en portant attention à la case de la Période de cotisation
Entrez le montant pour 2 mars au 31 décembre 2021
Cliquez sur la boîte bleue Entrez un nouveau REER
Entrez Feuillet REER no 2 en portant attention à la case de la Période de cotisation
Entrez le montant du 1 janvier au 1 mars 2022
Cliquez Section REER terminée et vous verrez la page Sommaire des cotisations au REER apparaîtra avec vos données.
Your answer suggests that ONLY releve 10 needs to be added to TurboTax, but doesn't exactly state that you do not need both. I realize that the Releve 10 will impact my return. The question was do I ALSO need to enter this amount contributed to FTQ as a RRSP receipt.
Please enter your RL 10 and then the amount will go into your RRSP in the appropriate date.
Thank you for choosing TurboTax.
Did you figure out this question at the end? I am having the same question right now and trying to figure out if i need to enter the same amount twice in RL-10 and RRSP section.
Thanks
Contributions to FTQ and CSN are RRSPs. Start with filling out your RRSP profile that you can find on the left side menu, and then you can fill out the labor-sponsored venture capital (or funds tax credit).
Check off that you have contributed to RRSPs and check other boxes according to your situation.
Continue and enter your RRSPs indicating the fund FTQ or CSN.
Click Done with RRSP when finished.
Click on Provincial – Quebec Credits – Quebec Credits Profile on the left side menu. The Your Quebec Credit Profile screen comes up.
Check off the Tax credit for Labor-sponsored venture capital (if it isn’t checked off already)
Continue
The Labor-sponsored venture capital screen will come up. Enter the information.
You can verify if your RRSP deductions have been entered on line 20800 of the federal return and lines 214 and 424 of the provincial return.
Now that is an answer. Why did it take from 2019 until 2023 to get a clear answer to this question. This is a) not obvious at all in the tool b) easy to miss and you lose quite a lot of tax return. Turbo-Tax is well done in general but this part about FTQ 30% extra tax break and the RRSP standard tax break is terrible in the tool. Guidance should be much clearer about entering RRSP AND entering RL10. Not only RL10.