Schedule E allows residents of Québec to make tax adjustments and claim certain tax credits such as the:
- Tax adjustment for single payment
- Foreign tax credit
- Tax credit for the beneficiary of a designated trust
- Alternative minimum tax
- Alternative minimum tax carry-over
- Deduction for logging tax
- Property tax refund for forest producers
Note: H&R Block’s tax software automatically calculates certain parts of your Schedule E based on the information you’ve already entered elsewhere in the software. These include your Foreign tax credit, Alternative minimum tax, and Alternative minimum tax carry-over.
Tax adjustment for single payment
Did you receive a single payment under a pension plan or a deferred profit-sharing plan? You can enter a tax adjustment for the what you’ve accumulated since December 31, 1971. You’ll need to contact Revenu Québec to find out your tax payable on this income and then complete Part A of Schedule E.
Tax credit for the beneficiary of a designated trust
If you’re the beneficiary of a designated trust and you’re including amounts from lines 15 and 16 of your TP-671.9-V: Information Return of the Beneficiary of a Designated Trust in your income, complete Part A of Schedule E. The TP-671.9-V form isn’t available in H&R Block’s tax software, so you’ll need to complete it beforehand.
Deduction for logging tax
If you have logging operations in Québec, you can deduct one third of the logging tax you paid when you filed your TPZ-1179-V: Logging Operations Return. You’ll need to use this amount in Part B of your Schedule E. The TPZ-1179-V isn’t available in H&R Block’s tax software, so you’ll need to complete it beforehand.
Property tax refund for forest producers
As a certified forest producer under the Sustainable Forest Development Act who’s actively engaged in developing your woodlots, you can claim a refund for every assessment unit listed on your valid certificate.
The portion of the unit made up of the forest area must be registered with the Ministère de l’Énergie et des Ressources naturelles. You’ll also need a report from a forest engineer listing your eligible development expenses. These can be carried forward ten years, or claimed in any of the next ten years, as long as your expenses weren’t less than your refundable property taxes. If you didn’t get a property tax refund, you can carry them forward:
- Over two years if the expenses were from before January 1st, 2014
- Over five years it the expenses were from before December 31st, 2013
Note: The value of your land and the total value of your units are stated on the assessment roll in effect for the fiscal period of a municipality or school board.
Where can I claim this?
Before you begin, make sure that you told us that you lived in Québec on December 31, 2016.
- Under the PREPARE tab, click the OTHER icon. You'll find yourself here:
- Under the OTHER DEDUCTIONS heading, click the checkbox labelled Tax adjustments and credits (Schedule E).
- When you arrive at the page for Tax adjustments and credits, enter your information into the tax software.