How do I complete the forms to split income. My pension income is from two sources? Had this problem last year and solution provided but can't remember.

 

Seniors and students

To split your pension income, you and your spouse or common-law partner must complete a Form T1032 — Joint Election to Split Pension Income.

  • The form has to be signed by both parties and be available upon request by CRA.
  • The transferred portion is reported on Line 11600 of the income tax return of the transferee.
  • The deducted portion is reported on Line 21000 of the transferor’s income tax return
  • When you transfer some of your pension income, your taxes paid which are associated with the transferred amount will be reduced and transferred on the transferee’s income return. So Line 43700 of both returns will be changed accordingly.

 

For steps on Splitting Pension in TurboTax Online, please see:

How do I split my pension income with my spouse?

 

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