With Turbotax, to enter dividend income as reported on a T5 slip, it is necessary to input all 3 amounts: (i) actual amount of dividend, (ii) taxable amount of dividend, and (iii) dividend tax credit.
1. With other similarly-priced competitor software, it is not necessary to enter all 3 amounts. For example, if the user enters the actual amount of the dividend, the software can automatically calculate what the taxable amount is and what the dividend tax credit should be. Why is Turbotax different? The requirement to manually input these amount increases the risk of human error when the calculations could be easily done by the software. Is this something that can be passed on to the appropriate Turbotax department as a way of improving the software (to make it competitive with other brands)?
2. Is there a check in Turbotax that will catch any human input errors? For example, if the user received and enters an actual amount of eligible dividend of $100, but makes a mistake and enters the taxable amount to be $125 instead of the correct $138, will Turbotax catch and correct this, perhaps as part of the Review steps?
Thank you.
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