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mdrh70
New Member

Why is the "Age Amount" deduction different for myself ($5,293) and my wife ($6,332), who is two months younger?

 
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Why is the "Age Amount" deduction different for myself ($5,293) and my wife ($6,332), who is two months younger?

Age amount is not a deduction. It is one of many Schedule 1 non-refundable credits.

Also, Age amount of Credit is dependant on your Net Income. As your Net rises above a base amount ( $34873.00) the credit is reduced at 15% of the difference).

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Why is the "Age Amount" deduction different for myself ($5,293) and my wife ($6,332), who is two months younger?

Age amount is not a deduction. It is one of many Schedule 1 non-refundable credits.

Also, Age amount of Credit is dependant on your Net Income. As your Net rises above a base amount ( $34873.00) the credit is reduced at 15% of the difference).