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Level 2
posted Jan 26, 2022 7:56:14 AM

Severance Package from Firm

I received a severance package here in Canada at the end of 2020 but did not accept it.  It has been in lawyers hands through 2021.  Final Settlement was accepted in December of 2021 however, I did NOT received any money in the form of income from it in 2021.   

 

Where do I claim severance package information?  Will I have to claim any income from the package for 2021 tax year (as paperwork was signed in 2021 but not completed) or will I wait until next year to file it?  As the full amount is being directed to my RSP, does it even matter?

 

(Other firm's lawyers wont respond to questions about tax documents)

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1 Replies
Level 15
Jan 26, 2022 8:00:41 AM

CANADA  This is the U.S. TurboTax public user forum. For help with Canadian taxes, please post your question in the Canada TurboTax user forum., at the following link.

https://turbotax.community.intuit.ca/community/turbotax-support/help/03/en-cahttps://turbotax.intuit.ca/tax-software/index.jsp