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Just to confirm, since you haven't entered an amount for the 'Lowest Return Airfare' yet, are you planning to use the CRA's Simplified Airfare Tables, or do you have a specific quote from the airline for your travel date?"
If this field is blank, TurboTax has a "0" in its calculation loop. Since the deduction is the lowest of three numbers, the whole deduction will stay at $0 until this is filled.
The CRA calculates your deduction based on the lesser of the following:
The Taxable Travel Benefit you received from your employer (or the $1,200 standard amount).
The total travel expenses (what you actually paid for the trip).
The Lowest Return Airfare (LRA) was available at the time of the trip to the nearest designated city.
If you left the "Lowest Return Airfare" blank, TurboTax treats it as $0. Since $0 is the lowest of the three values, your deduction remains $0.
Hope this helps!
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Thank you So much! Yes, that's exactly what I needed to enter.
I did have a look at the CRA Simplified Airfare table ($488.00) and it was drastically
different from the Airline ($1012.12), so I chose the Airline Letter. I appreciate your response 🙂
@nevinfamily You are welcome! I'm glad it was helpful!
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