Same problem with most of client who made repayment but repayment not shown in T4A or R4E as these are issued at total initial amount. Their My Account with CRA show repayment as instalment. How is everybody else dealing with it?
Since my original post I’ve had couple of similar cases. One of my clients called the CRA and, after spending 2 hours on hold, spoke to a CRA employee. He was told not to enter the amount appearing on his T4E slip on his tax return. Although I did not agree with this advice, he insisted that I not report the amount on the T4E slip. As I expected, when his tax return was assessed, this amount was added back to his income.
Therefore, I advise my clients to report all the income, as it is reported on T4E or T4A slips, even if it’s incorrect. Once they get the Notice of Assessment, we’ll write to the CRA, explaining the situation and asking for an adjustment.