Paul007 Posted April 23 Report Share Posted April 23 I have contributed 5k in 2023 in ftq & 1k in first 60 days in 2024. Plus i have contributed elsewhere in 2023 for rrsp. How do i instruct ufile to only take the 5k ftq contribution in account for this year’s income tax? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 23 Report Share Posted April 23 Hello Paul007, FTQ carryforward / Limit FQ amount Under certain conditions, you can carry forward the portion of the credit you are not claiming for 2023 to reduce your income tax for future years. For example, if the total of the amounts shown in boxes A and G of your RL-10 slip is more than $5,000, the surplus can be used to calculate your credit for future years. https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/how-to-complete-your-income-tax-return/line-by-line-help/400-to-447-income-tax-and-contributions/line-424/ >> Worksheet (Quebec) p1 >> Summary of carryforward amounts Quote Link to comment Share on other sites More sharing options...
Paul007 Posted April 24 Author Report Share Posted April 24 Hello Geo123, How do i input the tax credit for the following year? Thanks. Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 24 Report Share Posted April 24 Hello Paul007, >>Carry Forward Next year - will appear automatically Unclaimed FONDACTION shares from prior years". Select the line "Federal cost of shares acquired in first 60 days of 20xx " and enter the value of the shares that have not been deducted in the previous year. Quote Link to comment Share on other sites More sharing options...
Paul007 Posted April 25 Author Report Share Posted April 25 Great. So for next year, i simply fill out the bottom part of the ftq claim. I assume the Quebec and Federal cost shares will be the same amount? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 25 Report Share Posted April 25 Hello Hello Paul007,, It should appear automatically. Quote Link to comment Share on other sites More sharing options...
Paul007 Posted April 26 Author Report Share Posted April 26 Is there a way to carry forward the whole amount of ftq contribution in 2023 for the following year? Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 26 Report Share Posted April 26 Hello Hello Paul007, I do not believe so. It is only the excess over the limit. Quote Link to comment Share on other sites More sharing options...
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