The amount owing isn't changing because the software is still applying the full annual exemption to your single month of work. To fix this, you must find the Schedule 8/CPP optimization screen and locate the box for 'Number of months of CPP-eligible earnings. ''Manually change that '12' to a '1.' This forces the software to prorate your exemption and should adjust that 'amount owing.
Ensure to follow these steps:
In TurboTax Canada (Online or Desktop), follow these steps to reach the month-adjustment screen:
On the T4 Screen: * Set the "CPP/QPP Exempt" dropdown/checkbox to "No" (this clears the Box 16 error).
Ensure Box 26 (Pensionable Earnings) matches your Box 14 (unless you have specific non-pensionable benefits).
Navigate to the CPP Summary: * In the left-hand menu, go to Tax Topics > Pension Profile (or search for "CPP" in the Find/Search tool).
Look for the section titled "CPP/QPP contributions on self-employment and other earnings" or "Schedule 8."
The CPT30 / Months Section:
You will see a screen titled "CPT30 - Election to stop contributing to the CPP."
Select "Yes, I filed a CPT30 with my employer."
Enter the date the election became effective (the first day of the month after you gave it to your employer).
The "Number of Months" Override:
There is a specific field on the Schedule 8 / CPP screen (or sometimes just after the CPT30 entry) that asks for the "Number of months you were required to contribute to CPP."
Change this number from 12 to 1.
If you've completed all of that. Please private message me the screenshots so that I can forward them to the assigned department for further investigation.
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