As The Ministry is required to produce a RL-27 slip “Government payments” for recipients who are granted financial assistance under its programs, whether the recipient is an individual, a corporation or a partnership.Generally speaking: If you received financial assistance for personal purposes, the amount of the assistance is not taxable and you do not have to take the RL-27 slip into account on your income tax return; If you received financial assistance for business, organization or property operations purposes, the amount of the financial assistance must be deducted from the capital cost of the acquired property to calculate the capital cost allowance.Should you require additional information regarding the tax treatment of RL-27 slips, please contact Revenu Québec directly. Thank you for choosing TurboTax.

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Solved

I received a RL-27 slip from the Quebec government. Turbo Tax Standard does not include this one. What do I do?

Forum|Forum|2 years ago
February 29, 2024
1 reply
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Best answer by TurboTaxBrenda

As The Ministry is required to produce a RL-27 slip “Government payments” for recipients who are granted financial assistance under its programs, whether the recipient is an individual, a corporation or a partnership.

Generally speaking:

If you received financial assistance for personal purposes, the amount of the assistance is not taxable and you do not have to take the RL-27 slip into account on your income tax return;
If you received financial assistance for business, organization or property operations purposes, the amount of the financial assistance must be deducted from the capital cost of the acquired property to calculate the capital cost allowance.

Should you require additional information regarding the tax treatment of RL-27 slips, please contact Revenu Québec directly.

Thank you for choosing TurboTax.

TurboTaxSusan

In most cases, an RL-27 slip is issued for information purposes only. You do not have to enter it on your tax return. However, there are some exceptions:

If you hold a taxi owner's permit and have received a RL-27 slip indicating the allowance paid to compensate for the loss of value of your licence, you must enter the information found on your RL-27 slip in the Self-employment section to reduce the capital cost of the permit and the undepreciated capital cost (UCC) of the amortization category to which the permit belongs.

If you received a payment related to self-employment, you must reduce the amount of the corresponding expense or reduce the capital cost of the financed property or report it as other income in the Self-employment section of TurboTax.

To switch to the Self-Employment section of TurboTax Online:

Click on Find (magnifying glass) in the top right-hand corner.
Type "self" in the box, then select "self-employment" from the list, and click “Go”.

DM5757

Why is TurboTax not providing the RL-27 quebec form, if we receive a tax slip for RL-27 for a paid amount From the Quebec gorvernment for the RenoClimat Program then the revenue quebec expect us to enter one ! So will Turbo update their standard version with the form.

TurboTaxBrenda

Answer

Community Manager

Generally speaking:

If you received financial assistance for personal purposes, the amount of the assistance is not taxable and you do not have to take the RL-27 slip into account on your income tax return;
If you received financial assistance for business, organization or property operations purposes, the amount of the financial assistance must be deducted from the capital cost of the acquired property to calculate the capital cost allowance.

Should you require additional information regarding the tax treatment of RL-27 slips, please contact Revenu Québec directly.

Thank you for choosing TurboTax.