topic Why does TT use a 1.38 multiple to calculate taxable amount of dividend for amount to be entered on line 120 of return when information on internet suggests a lower rate? in Troubleshooting https://turbotax.community.intuit.ca/community/troubleshooting/discussion/why-does-tt-use-a-1-38-multiple-to-calculate-taxable-amount-of-dividend-for-amount-to-be-entered-on/01/911143#M2192 <P>What source does TT use to determine the multiple for calculating the taxable dividend amount for line 120?<BR /></P> Wed, 30 Oct 2019 15:17:29 GMT frankjm001 2019-10-30T15:17:29Z Why does TT use a 1.38 multiple to calculate taxable amount of dividend for amount to be entered on line 120 of return when information on internet suggests a lower rate? https://turbotax.community.intuit.ca/community/troubleshooting/discussion/why-does-tt-use-a-1-38-multiple-to-calculate-taxable-amount-of-dividend-for-amount-to-be-entered-on/01/911143#M2192 <P>What source does TT use to determine the multiple for calculating the taxable dividend amount for line 120?<BR /></P> Wed, 30 Oct 2019 15:17:29 GMT https://turbotax.community.intuit.ca/community/troubleshooting/discussion/why-does-tt-use-a-1-38-multiple-to-calculate-taxable-amount-of-dividend-for-amount-to-be-entered-on/01/911143#M2192 frankjm001 2019-10-30T15:17:29Z TurboTax uses the 1.38 multiple (138%), because that's wh... https://turbotax.community.intuit.ca/community/troubleshooting/discussion/turbotax-uses-the-1-38-multiple-138-because-that-s-wh/01/911144#M2193 <P></P><P>TurboTax uses the 1.38 multiple (138%), because that's what the CRA uses to determine the taxable amount of eligible dividends ("gross-up"). Non-eligible dividends are "grossed-up" by 1.17 (117%). This amount is then used to calculate the tax payable and the dividend tax credit at both Federal and Provincial levels.</P> <P> <A href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-120-taxable-amount-dividends-eligible-other-than-eligible-taxable-canadian-corporations.html" rel="nofollow" target="_blank">https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...</A> </P><BR /><P></P> Wed, 30 Oct 2019 15:17:30 GMT https://turbotax.community.intuit.ca/community/troubleshooting/discussion/turbotax-uses-the-1-38-multiple-138-because-that-s-wh/01/911144#M2193 TurboTaxSusan 2019-10-30T15:17:30Z
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topic Why does TT use a 1.38 multiple to calculate taxable amount of dividend for amount to be entered on line 120 of return when information on internet suggests a lower rate? in Troubleshooting
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https://turbotax.community.intuit.ca/community/troubleshooting/discussion/why-does-tt-use-a-1-38-multiple-to-calculate-taxable-amount-of-dividend-for-amount-to-be-entered-on/01/911143#M2192
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<P>What source does TT use to determine the multiple for calculating the taxable dividend amount for line 120?<BR /></P>
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Why does TT use a 1.38 multiple to calculate taxable amount of dividend for amount to be entered on line 120 of return when information on internet suggests a lower rate?
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https://turbotax.community.intuit.ca/community/troubleshooting/discussion/why-does-tt-use-a-1-38-multiple-to-calculate-taxable-amount-of-dividend-for-amount-to-be-entered-on/01/911143#M2192
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<P>What source does TT use to determine the multiple for calculating the taxable dividend amount for line 120?<BR /></P>
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TurboTax uses the 1.38 multiple (138%), because that's wh...
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https://turbotax.community.intuit.ca/community/troubleshooting/discussion/turbotax-uses-the-1-38-multiple-138-because-that-s-wh/01/911144#M2193
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<P></P><P>TurboTax uses the 1.38 multiple (138%), because that's what the CRA uses to determine the taxable amount of eligible dividends ("gross-up"). Non-eligible dividends are "grossed-up" by 1.17 (117%). This amount is then used to calculate the tax payable and the dividend tax credit at both Federal and Provincial levels.</P> <P> <A href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-120-taxable-amount-dividends-eligible-other-than-eligible-taxable-canadian-corporations.html" rel="nofollow" target="_blank">https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...</A> </P><BR /><P></P>
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<dc:creator>TurboTaxSusan</dc:creator>
<dc:date>2019-10-30T15:17:30Z</dc:date>
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