Why would the age amount for someone 75 years old with income below the 2023 threshold of $98,000 not show as $8,396?

As per the Canada Revenue Agency (CRA):

You can claim the age amount if you were 65 years of age or older on December 31, 2023, and your net income (line 23600 of your return) is less than $98,309.

If your net income was:

• $42,335 or less, claim $8,396 on line 30100 of your return 
• more than $42,335, but less than $98,309, complete the chart for line 30100 on the Federal Worksheet to calculate your claim

The CRA provides a formula in the Federal Worksheet to calculate the reduced amount as follows:

 

Therefore, the maximum amount you can claim under the age amount is $8,396. However, if your net income exceeds $42,335, the eligible amount will be reduced.

 

Thank you for choosing TurboTax.