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New Member

Why is maximum split amount of pension given as $1258 whereas eligible amount is $30,000.

I am trying to understand TurboTax 2014 in anticipation of doing my own taxes for 2015. year.  I have reviewed the "Pension splitting - definition" section and have confirmed the amount of eligible pension available for splitting (50% of $30,000).
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Highlighted
New Member

Why is maximum split amount of pension given as $1258 whereas eligible amount is $30,000.

Thanks for taking the time to respond. Her additional income outside her pension is QPP, OAS a small amount to interest income and withdrawals from her RRSP. My tax accountant got a more beneficial result when splitting $10,800 to me from her pension, but TurboTax limits the transfer to $1258.

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Highlighted
New Member

Why is maximum split amount of pension given as $1258 whereas eligible amount is $30,000.

Thanks for taking the time to respond. Her additional income outside her pension is QPP, OAS a small amount to interest income and withdrawals from her RRSP. My tax accountant got a more beneficial result when splitting $10,800 to me from her pension, but TurboTax limits the transfer to $1258.

View solution in original post

Highlighted
New Member

Why is maximum split amount of pension given as $1258 whereas eligible amount is $30,000.

Without seeing the full extent of the calculation, I can only guess. It could be that the amount available to split will only be beneficial when that amount is used. Does your spouse have other income?

Highlighted
New Member

Why is maximum split amount of pension given as $1258 whereas eligible amount is $30,000.

Thanks for taking the time to respond. Her additional income outside her pension is QPP, OAS a small amount to interest income and withdrawals from her RRSP. My tax accountant got a more beneficial result when splitting $10,800 to me from her pension, but TurboTax limits the transfer to $1258.
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New Member

Why is maximum split amount of pension given as $1258 whereas eligible amount is $30,000.

If you would like to have us review the entries and calculation, please let me know. I will send you instructions on how to provide your tax return information.

- Clint