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New Member

How is the age allowance calculated on income of $38.000 + , is there a chart anywhere ?

I had entered $6916 since I am over 65 years of age , turbo tax changed it to a different amount  to $$5672   i WOULD LIKE TO KNOW HOW THAT WAS CALCULATED

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New Member

How is the age allowance calculated on income of $38.000 + , is there a chart anywhere ?

Age amount is reduced by 15% of the amount your Net Income exceeds a base amount, which is currently around $34750.

View solution in original post

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New Member

How is the age allowance calculated on income of $38.000 + , is there a chart anywhere ?

Age amount is reduced by 15% of the amount your Net Income exceeds a base amount, which is currently around $34750.

View solution in original post