TP-1079.6-V: Statement of Losses, Deductions and Tax Credits Respecting a Tax Shelter

If you have any deductions or claims you’d like to make for a tax shelter this year, you’ll need to use the TP-1079.6-V form. With this form, you can:

  • Deduct a loss for a tax shelter or investment in a tax shelter
  • Claim a deduction or tax credit for a tax shelter or an investment in a tax shelter
  • Claim a deduction or tax credit for a tax shelter that’s a gifting arrangement

You’ll need to provide the following information when completing the TP-1079.6-V form:

  • The tax shelter identification number
  • The losses you want to deduct
  • The deductions or tax credits you want to claim
  • The number of the line on your income tax where you’re entering these amounts

You can find this information on your RL-14 or T5003 slip(s).

Remember, in order for you to be able to deduct or claim an amount for a tax shelter, you must include your tax shelter identification number on the TP-1079.6-V form and fully pay off any penalties, or interest on those penalties, beforehand.

A tax shelter identification number must be obtained before the promoter can issue or sell a tax shelter to an investor. It’s important to remember that simply receiving the tax shelter identification number doesn’t confirm your entitlement, as an investor, to claim any tax benefits associated with a tax shelter – the number itself is only used for administrative purposes. According to Revenu Québec, a tax shelter identification number is issued by the Minister of Revenue and is only valid for the calendar year specified on the application.

If you were a resident of Québec when you invested in the tax shelter, you will need to enter the tax shelter identification number assigned by the Minister of Revenue of Québec on your return. You can find this number on your RL-14 slip. Otherwise, enter either the tax shelter identification number assigned by the Minister of Revenue of Québec from your RL-14 slip or the one assigned by the Minister of National Revenue from your T5003 slip.

To find the loss, deduction, or credit for your tax shelter, you’ll need to complete your 2024 tax return first (except for the TP-1079.6-V page). Then, download your PDF tax return summary on the Your tax summary page under SUMMARY on the Wrap-Up tab. Enter the loss, deduction, or credit amount from the following lines on your return that are from your tax shelter, on the TP-1079.6-V page in the tax software:

  • Schedule L: Business income
    • Line 22, Business income (other than a farming or fishing business)
    • Line 23, Farming income
    • Line 24, Fishing income
    • Line 25, Professional income
    • Line 26, Commission income
    • Line 29, if you’re a specified member of partnership that invested in a tax shelter
  • Other loss or deduction:
    • Line 231, Carrying charges and interest expenses
    • Line 234, Business investment loss
    • Line 241, Exploration and development expenses
    • Line 394, Rental income
    • Line 395, Gift

Follow these steps in H&R Block’s 2024 tax software:

Before you begin, make sure you told us that you lived in Québec on December 31, 2024.

  1. On the left navigation menu, under the Credits & deductions tab, click Tax Topics.

  2. Select the Investment income & expenses checkbox.

  3. At the bottom of the page, click Add selected topics to my return.

  1. Under the INVESTMENTS IN TAX SHELTERS heading, select the checkbox labelled Statement of losses, deductions and tax credits respecting a tax shelter (TP-1079.6-V), then click Continue.

  2. When you arrive at the TP-1079.6-V page, enter your information into the tax software.