Publicly traded shares and T4 box 38

[Taxpayer2023]

Hello! I am completing the "Publicly traded shares, mutual fund units, deferral of eligible small business corporation shares, and other shares" tabs for each transaction for 2022. Under question "Stock option benefits included as employment income (T4 box 38)" should I enter for each of these tabs the amount from box 38 of my 2022 T4? If that is the case, I am wondering why UFile does not simply pre-fill this amount which I have already entered in the T4 tab.

[Geo123]

Hello Taxpayer2023,

1. On the "Left-side menu of the Interview tab", select "T4 and employment income".

2. On the screen to your right, choose between "T4 income earned outside Quebec" and "T4 and RL-1 (Relevé 1) income earned in Québec" depending on your province of residence.

3. Please note that the benefit on "Stock Option Benefit" in box 38 of the T4 is included in box 14. You will find box 38 in the middle of the page.

4. The boxes for "Security option deduction" that are entered in box 39 or 41 can be found in the drop-down list located at the bottom of the line "Other Information" (click on the triangle to see the list of choices)". Make your choice based on the box on your T4. In the field preceded by the sign "$", enter the amount on your T4.

At the far right of the screen, there is an icon of the plus sign "+". By clicking on this icon, another line is generated to enter additional information, if necessary.

For more information, please visit the following link:

For the CRA:

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/financial/security-options.html

We recommend that you carefully read each topic of this link.

For Revenu Québec :

https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completing-your-income-tax-return/line-by-line-help/276-to-297-taxable-income/line-297/point-2/