IN THE DEDUCTIONS SECTION MY CPP DEDUCTIONS AMOUNT IS LESS THAN ON MY T4 SLIP, ANY REASON FOR THAT?

You may have an overpayment of CPP and our software has automatically calculated this as indicated below. Please review your Detailed Tax Summary (to view the line 44800) by following the steps in the image included herein.

 

Line 30800 and 44800: CPP or QPP contributions through employment and CPP overpayment

The amount on line 30800 is contributions you made to CPP or QPP. The contributions were deducted from your pay cheque at the source and are reported in box 16 and 17 of your T4 slips.

 

An amount on line 44800 is the amount of CPP or QPP you overpayed, if applicable.

 

TurboTax automatically prorates your overpayment amount if any of the following situations apply:
 

• If you turned 18 in the tax year, proration is based on the number of months in the year after the month you turned 18.
• If you turned 70 in the tax year, proration is based on the number of months in the year up to and including the month you turned 70.
• If you received, a CPP or QPP retirement or disability pension for part of the year, proration is based on the number of months in the year you did not receive the pension.
• If the individual died in the tax year, proration is based on the number of months in the year up to and including the month the individual died.

 

 

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