TP-965.39.4-V: Calculation of the CIP Deduction

If you invested in a Cooperative Investment Plan (CIP) by buying securities from a cooperative or a federation of cooperatives and you lived in Québec at the end of the year, you might be able to claim a deduction for your investment. H&R Block's tax software will automatically calculate your deduction amount based on the information you entered on the Relevé 7 (RL-7) page.

You can also carry forward the unused portion of the CIP deductions for years after 2013 which you don’t use right away (for up to 5 years) so that you can apply it to a future return. If you want to claim an unused CIP deduction amount from a previous year, enter it on the TP-965.39.4-V page in the tax software.

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

To enter your RL-7 slip

  1. On the left navigation menu, click the Government slips tab, then Smart Search.

  1. Type RL-7 or relevé 7 in the search field then click the highlighted selection or press Enter to continue.

  2. When you arrive at the RL-7 page, enter your information into the tax software.

To claim your unused CIP deduction from a previous year:

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 INVESTMENT INCOME heading, select the checkbox labelled Calculation of the CIP deduction (TP-965.39.4-V), then click Continue.

  2. When you arrive at the Calculation of the CIP deduction page, enter your information into the tax software.