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When can I expect to see this Releve?
Solved! Go to Solution.
I will ask the developpers to consider implementing the RL27 in Profile in the future, but for this year, its too late in the cycle. If you need to enter amounts from RL27, you will need to do it manually. And again , in most cases, its not required.
You can use T1204 and it shows RL-27 at the top
Hi Mario B
Your reply is to use T1204. Client had renovations to his home via a Quebec Gov Grant. He is not employed..
Seems that Releve 27 is more appreciate in this case.
If T1204 is used when a retired taxpayer got a grant where do I put info.
Will there be a release where RL-27 is part of the Releves Or Should I wait for Releve 27 update!
Thanks for your Reply
Allan
You use the T1204 if you received one, for the federal return. For TP1, there is no RL27 in Profile, and there will not be.
In most cases, an RL-27 slip is issued for information purposes only. You do not have to enter it on your tax return. However, there are some exceptions:
If you hold a taxi owner's permit and have received a RL-27 slip indicating the allowance paid to compensate for the loss of value of your licence, you must enter the information found on your RL-27 slip in the Self-employment section to reduce the capital cost of the permit and the undepreciated capital cost (UCC) of the amortization category to which the permit belongs.
If you received a payment related to self-employment, you must reduce the amount of the corresponding expense or reduce the capital cost of the financed property or report it as other income in the Self-employment section.
Hi Mario
Additional information from client that RL27 was issued to them because of a rebate form installing an electric furnace.
Regards
Allan
Normally, you would have received a T1204 and if could flow to TP1 Self -Employment from the form Self employment income, or it could flow to 13000 on the T1 then box 154 of the TP1 or it could be entered directly on the T2125 and TP80
Sorry Mario
I did say this was an Individual received a "Rebate on Electric Furnace" by Quebec Government. They issued him A RL-27 as we stated in former messages. You stated RL-27 will not be in Program
Somehow you are going back to Business in your latest reply. The clients do not own a business.
Clients keep calling to see if the issue has been resolved.
Appreciate a reply with a solution. Thanks in Advance
Allan
There is no RL27 in Profile and there will not be, as I said, if you have a T1204 you enter in on the T1204.
The amounts displayed on the RL-27 slip in Box B relate to subsidies received from a ministry or an organization of the government of Quebec during the taxation year.
The subsidy is an amount received as assistance for the cost of an asset, for an outlay or expenditure or as an incentive. Aid or incentives can take the form of a bonus, subsidy, and forgivable loan.
Depending on the type of benefit that you receive, you must include these amounts in the calculation of your income or that of the trust, company or partnership.
If you are an individual and the amount of subsidy has been exhausted, you do not need to enter it. Therefore, do not claim a deduction for the expense.
I will ask the developpers to consider implementing the RL27 in Profile in the future, but for this year, its too late in the cycle. If you need to enter amounts from RL27, you will need to do it manually. And again , in most cases, its not required.
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