Tax preparation checklist: TurboTax Canada

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Income

• T Income Slips (T4, T4A, T4E, T3, T5, T5008, T4AOAS, T4AP, T5007)
• Other Income
• Tips and gratuities not already on your T4 or T4A
• Rental income (and expenses as a part of your T776 form)
• Self-employment (and expenses as a part of your T2125 for each business – fishing, farming, small businesses, freelance work, and contractors)
• Support payments received.
• Capital Gains including the sale of your principal residence.
• Amounts for carrying charges and interest expenses related to your investments. This includes fees for managing your investments.
• Home Buyers’ Plan, and Lifelong Learning Plan repayment amounts.

Expenses & Credits (a sampling as what you need changes depending upon your life situation)

• Adoption expenses
• Charitable donations
• Employment Expenses (Form T2200, completed by your employer to claim employment expenses, and a T777 outlining those expenses)
• Home accessibility expenses
• Medical expenses. If you’re claiming any medical expenses for other dependent family members (other than you, your spouse, and your minor children), the dependent’s net income is required
• Moving expenses
• Personal attendant/facility care expenses
• Receipts for childcare expenses
• Receipts for classroom/school supplies (teachers and early childhood educators)
• Student loan interest amounts
• Support payments made
• Tuition slips
• Union dues not included on your T4 slip

Depending on your province of residence, you may also need a few other amounts for certain provincial credits such as: Rent receipts – Property tax amounts – RL Slips (Quebec)- Seniors’ activity receipts

If you’re a CRA MyAccount holder, you can import these items directly into your return using CRA’s Auto-fill my return service.

Looking for an income tax calculator for your province or territory. TurboTax has you covered; simply enter in your province and amounts, it will calculate your taxes accordingly.

If at the end of the day you feel a bit overwhelmed trying to make sure you have everything, consider TurboTax Live Assist & Review and get unlimited help and advice as you do your taxes, plus a final review before you file.  Or, choose TurboTax Live Full Service and have one of our tax experts do you return from start to finish.