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neets77
New Member

When does the pension splitting optimizer appear?

When filing my return, when does the Pension Splitting Optimizer appear?  I've made it all the way through to review and file for both my return and my husband's, but I haven't seen it yet.  I'm using Turbotax Standard.

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Accepted Solutions
TTRS
New Member

When does the pension splitting optimizer appear?

You need to tell TurboTax you want to split your pension in personal tax profile section. To do so:

  • Profile > Get Started
  • Click next to get on the income page.
  • You should have selected yes to "did you withdraw money from a retirement account or receive retirement-type income, such as a pension or annuity?"
  • At the bottom of this section you should see an option "Do you want to split eligible pension income with a spouse or common-law partner (if applicable)?" Click yes and choose next.

Now if you step through the review section you will see the pensions splitting optimizer. If you want to go there directly, click Review > Split Your Pension with Your Spouse.



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4 Replies
sqsharman
New Member

When does the pension splitting optimizer appear?

Is turbo tax automatically doing the pension splitting from the higher income spouse?
TTRS
New Member

When does the pension splitting optimizer appear?

You need to tell TurboTax you want to split your pension in personal tax profile section. To do so:

  • Profile > Get Started
  • Click next to get on the income page.
  • You should have selected yes to "did you withdraw money from a retirement account or receive retirement-type income, such as a pension or annuity?"
  • At the bottom of this section you should see an option "Do you want to split eligible pension income with a spouse or common-law partner (if applicable)?" Click yes and choose next.

Now if you step through the review section you will see the pensions splitting optimizer. If you want to go there directly, click Review > Split Your Pension with Your Spouse.



neets77
New Member

When does the pension splitting optimizer appear?

I have followed the steps you have described and yet the Pension Splitting Optimizer is not appearing.  I am being asked to enter information from line A and line O of the T1032 form which I cannot find.  Both my spouse and I are eligible to split pension income, as we have in the past.  What has TurboTax changed this year?
RobinP_6182
Level 2

When does the pension splitting optimizer appear?

Pension split reporting on separate return- Please follow steps below:

Go to Spousal return of the one splitting the income.(Spouse A return)
1. Go to review on left menu panel.
2. Go to Bottom Line(Tax Summaries)
3. Click on "Spouse Name" - Review T1 General. (The file will download, click on it to open - Spouse A T1 General)

Go to Spousal return receiving the split income. (Spouse B return)
1. Go to Additional information about "Spouse A"
2. Was "Spouse A's" net income for 20XX zero? Click -> NO
3. Net Income Line 23600 -> Look up the line from Spouse A T1 General and enter it in.
4. Total Split Income Line 68360 -> Look up the line from Spouse A T1 General and would be the Line 23200 (same as line 68360) and enter in the amount there, if empty enter in 0.00.
5. Enter in the remaining info and click on continue.
6. Click on Income on left menu.
7. Click on Split income with your spouse
8. Click on Spouse A's Pension
9. For "Amount that you wish to split with your spouse," make sure you enter the same amount you entered in your spouses return. Should be the same as Line N on T1032 form in Spouse A T1 General.
10. It will ask you for Line A, O, 68025 and 68026. Look up these in form T1032 in Spouse A T1 General and enter in the info and click continue. 
The amount should now show up under Spouse B's pension income.

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