I see the newly released 2023 Turbo Tax uses the 2023 Tax Year Total Income Value for the Clawback Calculation in planner mode for the 2024 Tax Year. I understand for the 2024 Tax year it is $90,997. When will the software be updated so I can do my 2024 Tax Year estimates for RRSP withdrawals and such accurately without an incorrect Social Benefits payback value affecting the tax calculations? The difference is around $4,000 of Total Income so it creates a substantial error in planner mode.
Our programming team are aiming to include fixes to outdated values in a major update that will be released in mid-January. In the meantime, you can override the incorrect amount on the CLAW form to get the software to calculate clawback amounts correctly.
Our programming team are aiming to include fixes to outdated values in a major update that will be released in mid-January. In the meantime, you can override the incorrect amount on the CLAW form to get the software to calculate clawback amounts correctly.
Thanks, that works and saves with my "planner 2024" copy of the return. I would like to point out that it is not a Planner Mode specific fix, it affects both the current year and planner mode so I would warn everyone to make sure they are not making this override on their 2023 return that they intend to file. This is for a separately saved copy that you adjusted for the 2024 tax year and even though the clawback is correctly calculated when you load it, you still need to go into planner mode to get other aspects of the 2024 tax year reflected in the return you use to estimate next year's taxes.
Thanks for the quick response.