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New Member
posted Oct 30, 2019 11:18:26 AM

With a standard Turbo Tax, is the Pension Income Tax Credit automatically calculated into my return?

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1 Best answer
Level 6
Oct 30, 2019 11:18:27 AM

Yes, Pension amount is calculated, assuming you are eligible, and the pension is also eligible.

( CPP and OAS arent eligible).

3 Replies
Level 6
Oct 30, 2019 11:18:27 AM

Yes, Pension amount is calculated, assuming you are eligible, and the pension is also eligible.

( CPP and OAS arent eligible).

Returning Member
Feb 6, 2022 2:17:00 PM

My husband has an eligible pension which he split with me.  My husband's pension tax credit is calculated automatically but mine is not coming up.  There is no where to enter it.  It is  eligible for the credit according to the CRA website.

Moderator
Feb 16, 2022 11:09:17 AM

Please review our TurboTax FAQ How do I split my pension income with my spouse?

 

To see the information mentioned below, please our TurboTax FAQ for guidance: How can I see a detailed summary of my return in TurboTax Online?

When your husband split his pension with you, you will still see the full amount of the pension on his tax return as Pension Income on Line 115. 

Then further down you will notice this amount is deducted in the next section to arrive at Net Income (Line 210 - Deduction for Split Pension Amount).

You will have one income entry on Line 116, as well as a credit for income tax deducted in the same percentage as the Pension Income Split. 

 

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