How to split reg.rirement income as pension income with spouse?

[lormurturbo]

Can you declare RRIF income as pension income and how do you plit it with a spouse?

[TurboTaxBrenda1]

As per the CRA:The following amounts received by the transferring spouse or common-law partner are not eligible for pension income splitting:

• old age security payments
• Canada Pension Plan and Quebec Pension Plan
• any foreign source pension income that is tax-free in Canada because of a tax treaty that allows you to claim a deduction at line 25600 of your return
• income from a United States individual retirement account (IRA)
• amounts from a RRIF included on line 11500 of your return and transferred to an RRSP, another RRIF or an annuity

Here is a great TurboTax article on:

Understanding Pension Income Splitting for Seniors

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