I contributed to my FHSA in 2023 but I don't want to take the deduction in 2023 (I want to take it in 2024 or 2025)
There isn't a spot on Schedule 15 where I can enter that I don't want to take it in 2023 and then use it in a future year.
On RRSP Schedule 7 there's a line where you can choose to not take a deduction for 2023 contributions but I can't find the same thing for FHSA Schedule 15.
Thx.
Line 20 on schedule 15 is a problem. It should allow manual entry if you don't want to deduct FHSA contributions this year (i.e. carryforward to a future year).
This must be fixed or you can't file using Turbotax 2023.
We are aware of the issue and our product development team is working on it. In the mean time, you over-ride the amount being deducted, and still be able to netfile.
Hey, TurboTax Susan
Good day.
I don't know why you guys are having such trouble with this. There are more than a handful of tax experts at the firm all shaking their heads in unison.
READ what's asked on line 20. Still not sure what is meant? remove the X at the top of the Schedule and then run the review process. It will stop at the FHSA and provide an even more clear explanation of what is being asked.
Again, we are aware of the issue. But, you can override line 20 and still NETFILE. If you go through EasyStep Mode, it will do the override for you.
If you are getting the Error "You reported First Home Savings Account (FHSA) contributions but haven’t indicated if you opened an FHSA in the year.", that's because you've removed the check mark on Line 68930 (Did you Open an FSHA), but have FHSA contributions entered.
I was able to override that field 20 and use Netfile. I just received my NOA so no problems.
Thx.
Hello
FHSA (again) Line 43 this time.
It seems this field can also be populated using a "feeder" sort of field which appears above Line 43 should one elect to deduct a lesser amount.
However, and there always seems to be a "however" when TTax and FHSA issues come up, this field doesn't seem to want to accept a zero amount for those electing not to deduct any available contributions.
What does one do in this instance. Override? (again, this year) or will the tech team fix it? Forgive me if I don't have any confidence that anything will be done.
@Freddy8, for this issue, we suggest you to contact our product support team by phone. They have access to tools we don't have here in Community, like screenshare, and see the issues to escalate into an investigation if needed.
Thank you for choosing TurboTax.
Schedule 15, line 43, 100% sure there is a bug here, actually it is in the line above line 43: If you wish to claim less than the maximum amount, enter it here. you can try enter 0 or 1, then you will see funny result in line 43.
Exactly! If I enter 0.01 at line above 43, I get 15999.99 at line 44. If I enter 0.00 at line above 43, I get 16000 at line 43 and 0 at line 44! Big difference! When will Turbotax solve that serious bug?
I've forwarded this info to our investigations team. Thank you for letting us know.
I had the same issue. It asks "If you wish to claim less than the maximum above, enter it here. The difference will be carried forward to be claimed next tax year."
We entered "0", "0.00" and when you hit continue it will ignore what you have entered and will instead claim the full amount you have contributed. If you enter 1.00 everything calculates correctly, and defers everything (well, less the $1.00) but the zero amount evidently messes up the software...
Hoping they fix this - I would rather carry forward the full amount to a higher income year.
Hi everyone. I started this thread last year (2023 taxes) and I just finished my current year taxes 2024, and like several of you mentioned this is still messed up.
In the end I used $1.00 as well for the 2024 FHSA deduction because $0.00 won’t work and if you override the total field you can’t use Netfile.
Thanks for all the great comments, by the time I got around to this year’s taxes I was ready with my $1.00 deduction and did not waste my future $8000 FHSA deduction!
thx!