the RC359 is not populating

[dmangal]

I'm trying to add my amount in box 41, however, it's not generating the RC359.

If you are a specified employee (box 40 of the T4PS slip = "Yes") and contributions your employer made to an employees profit-sharing plan (EPSP) are allocated to you (box 41 of the T4PS slip > 0$), you may have to pay tax on the amount that is considered an excess amount. This section generates the RC359 - Tax on Excess Employees Profit-Sharing Plan Amounts for 2022 form and will calculate the excess EPSP amount and the related taxes.

 

[Geo123]

Hello dmangal,

Please see below.

T4PS - Statement of employees profit sharing plan allocations and payments (including RC359)

Specified employee  40   Yes   < - - ENTER YES
 If you are a specified employee (box 40 of the T4PS slip = "Yes") and contributions your employer made to an employees profit-sharing plan (EPSP) are allocated to you (box 41 of the T4PS slip > 0$), you may have to pay tax on the amount that is considered an excess amount. This section generates the RC359 - Tax on Excess Employees Profit-Sharing Plan Amounts for 2022 form and will calculate the excess EPSP amount and the related taxes.

Enter the amount of contributions from box 41 of the T4PS slip from the same employer 41  $200.00 < - - ENTER AMOUNT

 

RC359  Tax on Excess Employees Profit Sharing Plan Amounts :
Line 1 minus line 6 (if negative, enter "0")
Include this amount on  line 22900  of your return.
Excess EPSP amount   68210   =  [$200.00]       7

[dmangal]

 

I am not a specified employee no I entered, NO, there is no box 41 and the RC359 is not generating.