Have not completed CPT30 as was employed until 65 birthday and paid full CPP to June 30 and stated I wanted to stop paying CPP after July 1, 2017 as was self employed then
Have tried Schedule 8 showing same info but Turbo Tax still comes up with a "Fix" that I need to show that I elect to pay CPP on my employment earnings in 2017 but not on self employed earning after age 65 in 2017
Can you help with correct entries??
Follow these instructions rather than trying to enter your information directly on the Schedule 8. This will be done while in the Easy Step view of TurboTax which you have downloaded/installed in your computer.
*To make the election or enter the details of a previous election to stop paying CPP on your Self-Employed earnings using TurboTax Online or in the EasyStep view, go to Income > T-Slips > T4A(P) Canada Pension Plan Benefits.
On the T4A(P) - Summary screen, you can enter your information about previous elections or choose to stop contributing to CPP on your self-employment earnings. You must say "Yes" to the question - "Did you elect to stop contributing to CPP on your self-employment earnings in a year prior to 2017?"
This screen will only appear if you were 65 to 70 years of age. Please see the attached screenshot.