NEW RESIDENT - BASIC PERSONAL AMOUNT (Proration)

[TonyS]

Hello,

Although i completed the residency information in the Interview, indicating date and reason I became a new resident, Turbotax did not prorate the BASIC PERSONAL AMOUNT used for to deteremine my Federal non-refundable tax credits.  Should/is Turbotax prorate the credit automatically?  Am i doing something wrong?  

Regards,

Tony

[Lvsingh_2692]

You can claim a federal and provincial basic personal amount. This amount offsets the payable taxes for low-income taxpayers. the amount is indexed which means it increases every year. You can claim this amount on line 30000 of your income tax and benefit return. However, if you live outside the Canada through the year you must claim a prorated amount based on the number of days you resided in the country. For line 30000, If your net income at line 23600 of your return is $150,473 or less, enter $13,229. If your net income is $214,368 or more, enter $12,298. Otherwise, complete the calculation using the Worksheet for the return to determine how much to claim on line 30000.

You may check the turbotax's guideline on this link.

I also recommend you to check the CRA's website to verify this information at this link.

If you require further assistance please contact our phone support team for further assistance or contact us directly on Facebook or Twitter.

[shayakhmetov_rim]

Hi,

I'm having the same problem. I don't see how I can use a free version of TurboTax to prorate basic personal amounts based on the date I moved to Canada. TurboTax just doesn't prorate it automatically although I entered the date in the change of residency section. Is there a proration feature on other paid plans? 

If not, do you suggest correcting tax package forms manually in this case instead of using TurboTax? Is there any workaround to manually set the basic personal amounts values in TurboTax?

[shayakhmetov_rim]

Update (solved):

Only when I filled in the foreign income sources during the non-residency period, TurboxTax prorated the basic personal amount based on the change of residency date.