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Estimated CCB payment on TurboTax 2024 does not match online calculator by a lot?
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?
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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.
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Credits and deductions
Are you using TurboTax Desktop or TurboTax Online?
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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.
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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.
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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
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We are aware of this issue and it will be fixed soon.
Thank you for your patience.
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@munshedf we suggest you to wait and we will post an update in this thread.