Will Turbotax Home & Business edition calculate CPP automatically for self-employed?
I'm self-employed. The CPP has not been calculated automatically. CPP shows 0. I'm 60 years old. Last year the CPP calculated automatically. I want to continue to contribute to Pension Plan. Is there a known bug in software?
Will Turbotax Home & Business edition calculate CPP automatically for self-employed?
There are no known bugs with the CPP calculation for Self-Employed. If your "net income" after entering your business income and expenses on the T2125 - Statement of Business Activities is over $3,500, TurboTax automatically calculates the CPP payable.
If you have made any T4 entries with CPP deducted, the amounts shown on your tax return at lines 222 and 421 will be reduced or eliminated if the maximum of $2,564.10 is reached.
Will Turbotax Home & Business edition calculate CPP automatically for self-employed?
Turbo-tax is not calculating CPP automatically fir self-employed. I've entered all necessary information. Last year it was calculated. I was using the same software. Unfortunately, I have to use the services of a tax accountant. Our family will not buy this software any more. The technical support is horrible! They were hanging up when I called them and never called back.
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