Please help. I entered my T4 information (I'm the primary filer) and tried to enter my husbands T5007 information and it keeps reporting it as my information. I can't see where I made a mistake. How do I fix this?
TurboTax is probably working as designed. The amounts from Box 145 often end up on the other spouse's return
From the CRA site regarding Social Assistance payments:
"However if you lived with your spouse or common-law partner when the payments were received, the one of you who has the higher net income on Line 236 – Net income (not including these payments or the deductions on Line 214 – Child care expenses or Line 235 – Social benefits repayment) has to report all of the payments, no matter whose name is on the slip."
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/lns101-170/145-eng.html
TurboTax is probably working as designed. The amounts from Box 145 often end up on the other spouse's return
From the CRA site regarding Social Assistance payments:
"However if you lived with your spouse or common-law partner when the payments were received, the one of you who has the higher net income on Line 236 – Net income (not including these payments or the deductions on Line 214 – Child care expenses or Line 235 – Social benefits repayment) has to report all of the payments, no matter whose name is on the slip."
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/lns101-170/145-eng.html
Social Assistance payments are not taxable income. So whether the income is reported on your return or your husband's return won't affect the taxable income...however, by reducing your husband's income by the amount shown on the T5007, you are increasing your spousal credit that you can claim for your husband. While Social Assistance is not included in taxable income, it is included in net income, and the spousal credit is reduced by the net income of the spouse. This is actually one of those rules for preparing taxes that benefits the taxpayer, as it increases the credits and decreases the taxes owed.
Social Assistance payments are not taxable income. So whether the income is reported on your return or your husband's return won't affect the taxable income...however, by reducing your husband's income by the amount shown on the T5007, you are increasing your spousal credit that you can claim for your husband. While Social Assistance is not included in taxable income, it is included in net income, and the spousal credit is reduced by the net income of the spouse. This is actually one of those rules for preparing taxes that benefits the taxpayer, as it increases the credits and decreases the taxes owed.
meghanhackert1
New Member
actress14god
New Member
tori426423
New Member
sophiepao
New Member
skylarfriesen16-
New Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.