My teenager (dependent) received a T5018 for less than $600; do I put this into the dependent's T4 box on our form or leave it blank since he doesn't need to file?

pamdreimer · ‎June 02, 2020

There is only the box for T4, no other options. The form is asking if our dependent had any income from last year, and he just has that one T5018 form.

jparsons · ‎June 02, 2020

I would suggest going to the Dependant information page and entering this amount on the line for "net income" of that dependant. You're right in that a tax return does not have to be filed if there is no tax payable.

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jparsons · ‎June 02, 2020

I would suggest going to the Dependant information page and entering this amount on the line for "net income" of that dependant. You're right in that a tax return does not have to be filed if there is no tax payable.

dogilvie89 · ‎June 02, 2020

I tell all my clients to have their kids file returns even if not taxable (and I do for free) as even though only $600 that then creates $108 in RRSP contribution amounts for future use.