TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

kswilliams17

Question

How do I enter information from a T1198?

Forum|Forum|1 year ago
February 21, 2025
12 replies
0 views

I can't find the form on the website, and all the other questions are from two years ago.

TurboTaxAniqua

Are you using a online version or a download version of TurboTax?

BrandoJM44

I am looking for that answer as well, I spoke to rep from TurboTax because I tried to file taxes but form was locked. They said that the forms online should be unlocked near the end of March. Was hoping for sooner, but will continue to check to see if they have opened.

amherstpm

Is there a form I can fill out online yet for a T1198??

You guys charged me money just for me to find out I couldn't file with you guys?

Are you getting the form set-up?

TurboTaxSusan

We're working hard to finalize the T1198 form to align ourselves with CRA requirements, and we hope to have it ready soon. We appreciate your patience.

You can see a list of Forms that still locked here: Why does TurboTax say my forms are locked or haven't been finalized?

Shelley83

So will using Turbo Tax be possible if I have a T1198 form?

Zgaster1

How do I enter information from form T1198?

TurboTaxAniqua

@EHeagle1 When you go to NETFILE your return, you are asked if you are reporting a qualifying retroactive lump-sum payment on Form T1198?

If you answer “Yes”, you will not be able to NETFILE, but if you answer “No”, you will be taxed on your whole lump sum this year.

Form T1198 – Statement of Qualifying Retroactive Lump-Sum Payment is a form you submit to the Canada Revenue Agency (CRA) if you received a lump-sum payment and would like them to complete a special tax calculation that takes into account the unusual nature of this lump-sum payment.

For more information please follow our TurboTax Article T1198 Form – Statement of Qualifying Retroactive Lump-Sum Payment

Kell27

Just to clarify - You cannot netfile with a T1198? Why is there form on turbo tax to enter this information? It is optional to enter the info about T1198 if over $3000?

RissaM

Having the same issue as other in the thread. I have inputted all the amounts from my T1198, but keep getting an error message that say "The breakdown of principal (total of boxes 68520 through 68560) must equal the total principal amount (box 68519).". I have checked the math multiple times and the numbers do add up correctly. I cannot proceed with my tax return until this issue is resolved...

SFox1

So I've been playing with it. It is box 68555 that is giving me trouble. What's interesting is that it works if I raise it a single cent and adjust the totals accordingly. Seems to be a weird glitch.

TurboTaxAniqua

@SFox1 T1198 form is still locked by CRA and not finalized by CRA yet. Please refer to this link Why does TurboTax say my forms are locked or haven't been finalized?

We do not have any ETA on this yet but as soon a these forms gets finalize we will be updating them in TurboTax for an accurate calculations.

We appreciate your patience.

Kathy151515

When will the form T1198 be unlocked so that we can efile on desktop versio of tax program? It says early March and it is now March 12th. Thousand of school board staff in Ontario will need to use this feature. Please expedidite this fix.

verb3

At 8:39 on March 14th, 2025. I was able to successfully net file and complete the t1198 form without errors messages.

mbnorton

Was that with desktop version

verb3

Yes

Amnion14

This lump sum was paid in 2024. The "Year of Payment" errors with "Please enter a year up to 2023...."

Very frustrating...

annon3

You need a letter or slip from your employer that states how the lump sum was divided over the previous years, and then you enter this info. If it should have been paid out over 2022, 2023, 2024, you would divide the amounts as such based on the information provided by your employer, or whoever paid it out.

ToniAinamo

Hi!

I received 2 qualifying lump sum papers, but online (the app) I seem to only be able to access 1 t1198. Am I able to combine the 2 forms (each form is for different years) into 1 t1198 and just add the totals together?

coconutcolin

I am just going to print my forms and mail them in. The update from intuit actually REMOVED the easy step step out of the introduction. And if you try and search the form it doesn't do anything just like it did last week with that update.

I'm printing my forms mailing them in. Anyone on here who is modifying the form like putting the year 0024 or changing the cents is at risk for an audit.

Imagine using a software that forces you to enter incorrect information in order to process your return.

Never again turbo tax.

paulN1

I've entered all my T1198 info correctly and it was accepted by TurboTax, however, my refund amount did not change. Is it supposed to ? Does TurboTax have access/use my previous years income amounts to be able to determine the adjustment automatically or does this info simply get sent to CRA and they will do a refund adjustment for me at a later date? I've called a few times and can't really seem to get an answer from anyone. so I would appreciate some clarification on this. Thank you.

PeterAbby55

the adjustment for previous years is something that the CRA will calculate based on information

it has from previous years tax filings. IT HAS NOTHING TO WITH TURBOTAX.

Filing a T1198 just informs the CRA that they will need to do extra calculations for the previous years.

If you ask me, it would have been just a well to tax the retro income as this years income and get on with life !!

TaxTime91

Does anyone know if the amounts stated on the T1198 for the current year and the prior years are also included in the current year T4 in box 14 Employment income or in any other box on the T4?

Amnion14

@Lindsay10

As far as I know (assuming 2024 is the "current" year; actually numbering the years instead of current and previous would have been helpful) any amounts paid in 2024 for all years are included on your T4 Box 14.

T1198 is simply a request to CRA to have this lump payment spread out over the years involved to see if a refund may be due...