I just completed my taxes for 2024. I have 2 kids, one gets the disability tax credit. My income went up by about $10,000 this year, for calculation purposes.
On TurboTax, it estimates my annual eligibility for CCB to be $2419.29 ($201.61 per month). The CRA's online calculator estimates it to be $5823.72 ($485.31 per month).
This discrepancy is quite concerning. I am just wondering why TurboTax would be that far off and if anyone else has experienced this?
For further information, the number provided by TurboTax actually matches the CRA's online calculator payment estimate for the Disability Tax Credit top-up for my daughter.
I am using the desktop version and have noticed this same issue as well. When using the online calculator on the CRA website using my net income from this year, it estimates a total of $14,486.92 but in turbotax it shows estimated $3412 for the CCB. Other years it has been calculated fairly close, but this year is showing a huge discrepancy despite my income only being slightly higher this year.
It is the Online version.
chillyb - I am kinda glad that it isn't only me because then maybe they have screwed up and we will get what the online calculator says and NOT what TurboTax says.
My Thoughts exactly! I'm glad someone else is reporting the same issue, it feels like its a turbo tax issue more than anything at that point and I likely didn't mess something up lol
We are aware of this issue and it will be fixed soon.
Thank you for your patience.
@munshedf we suggest you to wait and we will post an update in this thread.
I am having the same issue. Is there an estimate of when this will be fixed? Thank you.
I am having the same issue. Never had this problem in the past using TurboTax and I have been using it for nearly 15 years. I hope that it gets fixed soon.
Also wondering what’s going to happen. Already submitted before I realized I didn’t see the amount.
There appears to be an issue with the CCB form that exists in the background of the TurboTax software for calculating the CCB amounts.
If you click on "Forms" view and then the Forms pop up from the bottom, then Form lookup... and search "CCB". You will see the form in question.
What I found well preparing mine, was that the Basic Benefit amounts did not seem to be correct, based on the information I put into my return (ie. number of dependents, dependent info, etc.).
So with those amounts not being calculated correctly, it is not able to properly calculate the estimated CCB values at the end.
Hopefully TurboTax is aware of the problem and working on pushing a fix for this soon. It would be nice to know these estimated amounts prior to filing.
Has this been fixed yet? Its February 28th and I am having the same issue... and I paid more for the Home and Business version, so this should not be an issue. Can someone from Intuit please respond?
Thank you,
No it hasn't, have not even got a response from Intuit on the issue yet.
I keep checking for updates on my Desktop version and nothing yet.
Wondering when this will be fixed? I just did mine today and it's still coming up wrong... by lots.
This is ridiculous, it seems to be a simple math issue on the CCB form, except you can't edit the numbers that Intuit has entered into the columns. If we were able to enter the numbers manually, there would be no issue. Honestly at this point I am starting to reconsider using Turbo Tax, especially due to the lack of communication as well as the timeframe to fix a simple issue.
Me too. I sent mine in already thinking this wouldn't affect my actual taxes....
there’s appears to be errors with the eligible dependant tax credit as well. Had a message pop up saying it would add $2000 to my tax return but the amount stayed the same? Another issue?
@fudgie88 At this moment, we are aware of the issue with the estimated amount given by our software, and our teams are working on a solution in the near future.
Please note that this amount is an estimate (even if wrong) and in no way affects your tax return, as it is the government that decides how much you will be entitled to receive.
Thank you for your understanding and patience.
Thank you for choosing TurboTax.