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Why is T1198 not reducing tax owed?

 
2 Replies
sg81
New Member

Why is T1198 not reducing tax owed?

I'm wondering the same thing. My T1198 form is working fine after entering my values, but my refund amount doesn't change and it doesn't show up on the summary. Hoping Turbotax gets this fixed so we don't all have to submit on paper.

Why is T1198 not reducing tax owed?

@sg81 For information on T1198 form please refer to this TurboTax Hub article: T1198 Form – Statement of Qualifying Retroactive Lump-Sum Payment

 

T1198 form is still locked by CRA and not finalized by CRA yet. Please refer to this link Why does TurboTax say my forms are locked or haven't been finalized? 

We do not have any ETA on this yet but as soon a these forms gets finalize we will be updating them in TurboTax for an accurate calculations.

We appreciate your patience