When preparing your tax return, you need to report your interest, dividend, and investment income, even if you didn’t receive information slips for it. Since you can’t enter information from slips you didn’t receive, you’ll report your income from these investments on Schedule 4 instead.
Residents of Québec should also use Schedule 4 to report the interest and dividend income they didn’t receive slips for. With H&R Block’s tax software, your information from this page will be automatically transferred onto your provincial tax return.
Typically, your interest and investment income will be shown on your:
- T5: Statement of investment income
- T3: Statement of trust income allocations and designations
- T4PS: Statement of employee profit-sharing plan allocations and payments
- T5013: Statement of partnership income
If you’re a resident of Québec, your investment and dividend income will be shown on your:
- RL-3: Investment income
- RL-15: Amounts allocated to the members of a partnership
- RL-16: Trust income
- RL-25: Income from a profit-sharing plan
If you didn’t receive any of the slips listed above, it might have been because you earned less than $50 from your investments. In order to receive an RL-16 slip, you need to earn more than $100 in investment income.
You need to report the taxable amount of your eligible dividends on Schedule 4. Simply enter the actual amount of your eligible dividends and H&R Block’s tax software will determine this amount for you, so that you aren’t accidentally taxed twice on your earnings. Visit the CRA website for more information on taxing your eligible dividends or, if you live in Québec, visit the Revenu Québec website.
Income you earned from these types of investments will need to be reported on Schedule 4:
- Bank accounts, term deposits, guaranteed investment certificates (GICs), and other investments
- Canada savings bonds
- Treasury bills (T-bills)
- Earnings from a life insurance policy
- Foreign interest and dividends
You also need to report interest you received on tax refunds during the year, which you can find on your notice of assessment (NOA) or reassessment.
Where do I claim this?
Follow these steps in H&R Block’s tax software to file your 2016 taxes:
- On the PREPARE tab, click the LET’S TALK ABOUT 2016 icon.
- Select the checkbox labelled I had investments and/or investment income, or I bought and/or sold property.
- Click the PENSION PLANS AND INVESTMENTS icon. You’ll find yourself here:
- Under the INVESTMENT INCOME heading, select the checkbox labelled Statement of investment income (Schedule 4).
- When you arrive at the page for your Statement of investment income, enter your information into the tax software.