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If you are an executor or legal representative, you can sign. Remember to include a copy of the death certificate and the last will and testament with the final return.

A credit card is not an existing ‘reserve of wealth, nor money’ , so I don’t see how it could be reported under T1135.

You can assume that what CRA has is the accurate and complete information.

Charlene Fang, yes you can, Ufile only sends the totals anyway, not the detail, which the CRA already has.

Capital losses can only be claimed against capital gains from the previous three years or applied to future gains indefinitely. If you had gains in 2020, you could offset your losses in that year. This does not affect your 2023 return.

The RL-18 is the Quebec provincial equivalent to the federal T5008. If you entered the federal slip, it will transfer automatically to the RL-18 slip.

You must be able to print out your return and mail it in, so not sure about Ufile online. Ufile for Windows works well for non-residents..

You are allowed to over contribute up to 2000$; the excess is penalized at 1% per month. So if you are over by 5000$, you would pay the 1% penalty on 5000-2000=3000$. You need to figure out how many months before you can absorb the 3000$ contribution in a future taxation year. You can never deduct an overcontribution, until it becomes a contribution. You can ask for a waiver, and it may be granted; see link below: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/contributing-a-rrsp-prpp/what-happens-you-over-your-rrsp-prpp-deduction-limit.html

Taxreturn, When you contribute to your RRSP, you can choose to deduct only part of your contribution, and keep the rest for a future year. You would want to do this if your partial deduction reduces your income tax to 0$, there is no point in deducting more. Or, if you anticipate changing tax brackets in a future year. So, if you enter 4000$, you are using all your contributions in the 2023 taxation year. If you enter 1000$, the remaining 3000$ will be available as a deduction next year.

Actually, over the lifetime of your RRSP, you are allowed to overcontribute up to 2000$, before you are penalized. So just enter the overcontribution as a regular contribution and deduct it next year.

You might want to have a look at the ‘pension-splitting report’ visible in the left hand menu, under Returns. Just below that is a ‘redistribution report’ which clearly shows what the receiver is owed relative to the pensioner that is splitting his pension. After a period of 12 months of cohabitation, filing jointly is the only choice.

You really have to report your RRSP contributions, the year they occurred. Unlike the TSFA, where the banks provide the info directly to the CRA, the only information the CRA has on record for your RRSP is the information you provided in previous income tax returns. You can easily check your contributions/deductions in ‘MyAccount’. So, you will have to file adjustments.

Hello BMart, This should be helpful: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/completing-schedule-3/bonds-debentures-promissory-notes-other-similar-properties/foreign-currencies.html

The currency type and amounts reported in your return should be consistent with the amounts shown on the T5008. So just add the official Bank of Canada 2023 average exchange rate of 1.3497 below boxes 20 and 21; i.e. option 1.

I believe that a first return for an immigrant must be filed on paper, and can’t be Netfiled.

In the interview section, you have to specify that your are completing a return for a deceased person and indicate the date of death. Her marital status was ‘married’.

The desktop version only works on Windows, you need to use the online version to do your taxes on a Mac.

The CRA applies special rules, exceptionally, during a transition year; I would call them and ask for a Tier 3 agent, familiar with residency status issues.

You can add them up and report a single T5008, or fill one in for each security sold. If you check MyAccount on the CRA website and you see all your individual T5008 slips, under tax info slips, you can import them. This is the fastest way of proceeding if you have multiple T5008 slips.

Tax laws change every year, so you need the latest version to complete 2023 taxes. The .u23 file contains all the tax forms for all family members. On the other hand, the PDF files are for individual returns and each return can be customized in terms of which pages you wish to keep in the PDF file.

You enter the benefits paid as you would any other medical receipt; in the medical receipts section of the Interview.

Unfortunately, only the online version of Ufile is available to MAC users.

Most deductions are for higher education, beyond high school.

Normally, taxes are due by April 30th following the taxation year. So software is usually released at the end of of the taxation year in December.

Yes, you can withdraw as well, but depending on how the RRSP is invested, this can be more costly, than paying the penalty for just a few months.