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After splitting my pension income with my wife, why does the full amount from my T4A still appears on my tax summary?
I entered the amount from box 16 of my T4A as instructed. Later in the process, I split a portion of that amount on my wife's tax form as instructed. When I went to the tax summary section, the full amount of my pension income that I entered earlier still appears in my tax summary as income. The summary for my wife does show the transfer amount I entered. Should the total on my summary for pension income not be less the amount I transferred?
October 31, 2019
3:42 AM
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Seniors and students
No it should not.
As ‘Pensioner’ your split pension amount is a deduction from income. So your Net Income line 236 is reduced.
October 31, 2019
3:42 AM