Releve 10 FTQ fonds de solidarite ftq

[exterra]

Hello my wife has payroll deduction with the fonds ftq in Montreal, Quebec. I have received a releve 10. There is amounts in box A and B only. Do I also have to input the amount in box B in the bottom section? "RRSP amount of contribution eligible for the RRSP deduction" in the picture below. 

[Antoine7]

Hello exterra,

FTQ - How to enter information from the RL-10 slip - Quebec

You may qualify for the tax credit for the purchase of labour-sponsored funds (LSF) shares if, in the current tax year or within the first 60 days of the following tax year, you acquired Class A LSF shares.

These shares may also be considered as contributions to your RRSP or to your spouse's RRSP.

To enter your contributions, please follow these steps:
 1. In the "Left-side menu on the Interview tab", select "Other information slips".

2. On the screen appearing on the right, choose "RL-10 - Fonds de solidarité des travailleurs du Québec (FTQ)".

3. Once on this page, on the line ''Period'', click on the drop-down menu and enter the period during which your payments were made by choosing either  ''''Amounts paid after the 60th day of 2017" or ''Amounts paid in the first 60 days of 2018'.

4. 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.

5. If these shares are contributions to your RRSP or your spouse's, you must specify it. To do so, go to the "RRSP'' section, and for the line ''RRSP contribution eligible to the RRSP deduction", choose the option that applies to your situation from the drop-down menu.

6. Then, in the "RRSP contributions, limits" section under the "Left-side menu on the Interview tab", you must specify your RRSP deduction limit as per your latest Notice of Assessment sent to you by the CRA. You should not re-enter the information of the RL-10 in this section, as you have already entered the information on the RL-10 page under ''RL-10 - Québec labour-sponsored tax credit''.

Your deduction for your RRSP will be carried over on line 208 of your federal return, as well as on line 214 of your Quebec tax return, and the tax credit for the labour-sponsored fund will be entered on line 414 of federal Schedule 1, as well as on line 424 of the Quebec return if applicable.

The program will carry over your credit, as appropriated, if you need it to reduce your federal or provincial amount of tax payable.

For more information about this topic, please consult the following links:
For the CRA:

http://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/lines-413-414-labour-sponsored-funds-tax-credit.html

For Revenu Quebec:

http://www.revenuquebec.ca/en/citoyen/declaration/produire/comment/aideligne/ligne424.aspx
 

[exterra]

Thanks for the reply. I contacted the FTQ rep and she said exactly what you said. Great 

[Adrian Cook]

I overcontributed to the FTQ in 2018 ($12,500) and I specified $5,000 as a deduction. Will the other $7,500 need to be inputted manually in 2019 or will the FTQ contribution of $7,500 that I claimed this year be carried over automatically? 

[Antoine7]

Hello Adrian Cook,

In fact the software will carry over the amount not used the year before, but when you report the 2018 tax file into UFile 2019 make sure that the transaction is done properly.